Mastering Fiduciary Accounting Income for Estate Planners and Administrators
Interpreting Operating Documents, Applying UPIA and State Law, Designing Distribution Strategies, Avoiding Beneficiary Challenges
A live 90-minute CLE/CPE video webinar with interactive Q&A
This CLE/CPE course will provide estate planners with a comprehensive and practical guide to navigating the complexities of fiduciary accounting income (FAI) for trusts and estates. The panel will focus on the impact of FAI on planners and estate administrators and will detail how to interpret essential trust and estate provisions to apply to FAI calculations. The program will focus on planning implications of FAI considerations, including distribution strategies and specific allocation challenges under trust accounting principles.
Outline
- Specific challenges in allocating income and expenses to FAI
- UPIA factors in calculating FAI
- Impact of FAI on trust distributions
- Tax considerations such as distributable net income inclusion on distribution strategies
- Planning considerations and traps to avoid
Benefits
The panel will review these and other key issues:
- How operating documents impact FAI calculations
- Interpreting state laws and UPIA provisions in circumstances where operating documents are silent or inconclusive
- Reconciling FAI to distributable net income and trust taxable income
- How FAI determines distribution amounts and timing
Faculty
Natalie Keam, CPA, CFE
Advisory Manager
BPM
Ms. Keam is a Manager of fiduciary accounting and consulting engagements at O&S. She has over ten years of... | Read More
Ms. Keam is a Manager of fiduciary accounting and consulting engagements at O&S. She has over ten years of experience in accounting and auditing, in a range of industries including, non-profit, post-secondary education, title insurance, employee benefit plans, construction, manufacturing, and distribution. Her current concentration is in consultations in accounting processes, and forensic and fiduciary accountings for estate, trusts, and court. She began her public accounting career at Grant Thornton and later moved into a regional, and local firm to service mid-size clients. She then spent a couple of years in the private sector, performing internal audits at one of the largest title insurance companies, before returning to public accounting, at O&S.
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Francine Lee
Senior Manager
Ernst & Young
Ms. Lee brings over 25 years of experience creating income tax and estate planning solutions for high net worth clients... | Read More
Ms. Lee brings over 25 years of experience creating income tax and estate planning solutions for high net worth clients and building platforms and products at industry leading organizations. She holds a Master of Laws in Taxation from New York University School of Law and Juris Doctor from Western New England School of Law, and is admitted to the New York State Bar. Ms. Lee is a published author and frequent public speaker.
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Evan Sandler, CPA, MST
Tax Director
BPM
Mr. Sandler is a Tax Manager at Onisko & Scholz with a specialty in estate and trust tax.
| Read MoreMr. Sandler is a Tax Manager at Onisko & Scholz with a specialty in estate and trust tax.
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Cannot Attend July 25?
Early Discount (through 06/30/23)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. CPE credit is not available on recordings. Strafford will process CLE credit for one person on each recording. All formats include course handouts.