Fiduciary Challenges In Providing Trust Accountings: Reporting Trust Activities in Response to Beneficiary Demand
Accountings for Multiple Beneficiaries, Allocating Income and Disbursements Between Corpus and Income, TAI vs. FAI
A live 110-minute CPE webinar with interactive Q&A
This webinar will guide fiduciary advisers and compliance professionals on providing trust fiduciary accountings to beneficiaries. The panel will detail how to segregate reportable items in multi-beneficiary scenarios, discuss how distributable net income (DNI) figures into a trust accounting, and describe possible risk areas for fiduciaries in providing trust accountings.
- Trustee’s fiduciary duties to provide trust accounting to beneficiaries
- Varying state rules
- Current vs. contingent beneficiaries rights
- Trust provisions to waive annual accounting requirement
- Form of beneficiary demands
- Most common elements of a trust accounting to beneficiaries
- Differentiating TAI vs. DNI concepts in providing a trust accounting
- Segregating reportable items in multi-beneficiary scenarios
- Defending against beneficiary action related to trust accountings
- Risk areas and possible sanctions for failure to provide requested accountings
The panel will discuss these and other relevant topics:
- When a fiduciary must provide a trust accounting
- How to differentiate between TAI, DNI and taxable income in presenting a trust accounting
- How to present trust accountings in a multiple beneficiary scenario
- What must a trust accounting to beneficiaries contain, and what documentation should the trustee retain?
- What external events commonly mandate a fiduciary to provide a trust accounting?
Howard L. Sanger
Sanger & Manes
Mr. Sanger has over a quarter century of experience in estate planning, trust and estate administration, tax... | Read More
Mr. Sanger has over a quarter century of experience in estate planning, trust and estate administration, tax planning and disputes, partnership accountings, and advising clients on establishing, buying, and selling businesses. He is the co-author of Chapter 30, Trustee Accounting Powers, of the Continuing Education of the Bar three volume Will Drafting treatise, addressing many common will and trust fiduciary accounting, principal and income issues confronting fiduciaries and beneficiaries. He authored many articles on tax, estate planning, and partnership issues and is frequently invited to speak on legal topics before attorneys and CPAs.Close
to be announced.
Buy Live Webinar
Includes Early Discount Savings of $50 (through 07/27/18)
CPE credit processing is available for an additional fee of $35. CPE processing must be ordered prior to the event.
See NASBA details.
Live Webinar & CPE Processing
Buy Live Webinar & Recording
Includes special savings of $150 (through 07/27/18)
Live Webinar & Download
Live Webinar & DVD
$144 + $9.45 S&H