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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 video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Tuesday, August 5, 2025

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, July 11, 2025

or call 1-800-926-7926
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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.

Description

A critical and often overlooked task for estate planners, administrators, and trustees is navigating the rules governing FAI. FAI is the amount generally available to distribute to income beneficiaries of a trust or estate. It is different from both taxable income and distributable net income, both of which are tax-related concepts. Estate planners and administrators must have a thorough understanding of FAI principles to allocate income and expenses accurately and distribute assets equitably.

The starting point for determining FAI is the operating instrument, such as a will or trust agreement. Where the operating document is unclear as to an income receipt, an expense item, or a distribution item, the FAI determination defaults to the state law of the trust situs. Most states have incorporated the UPIA, with some local differences. However, fiduciary accounting principles determine the timing and amount of distributions to beneficiaries.

Another critical skill is reconciling FAI to both distributable net income and trust taxable income. Accountants and lawyers representing fiduciaries must grasp the critical differences between fiduciary accounting and tax accounting to avoid both tax consequences and beneficiary challenges.

Listen as our experienced panel provides a deep and practical guide to what estate planners must know to master FAI beyond the basics.

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Outline

  1. Specific challenges in allocating income and expenses to FAI
  2. UPIA factors in calculating FAI
  3. Impact of FAI on trust distributions
  4. Tax considerations such as distributable net income inclusion on distribution strategies
  5. 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

Hansen, Katie
Katie Hansen
Advisory Supervisor
BPM

Ms. Hansen is an experienced Accountant and CPA in the Private and Public Sector with focused skills on Accounts...  |  Read More

Sandler, Evan
Evan Sandler, CPA, MST
Tax Director
BPM

Mr. Sandler is a Tax Director at BPM with a specialty in estate and trust tax. He graduated from the University of...  |  Read More

Attend on August 5

Early Discount (through 07/11/25)

Cannot Attend August 5?

Early Discount (through 07/11/25)

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video