Fiduciary Accounting Part 4: The New Frontier?Total Return Trusts 25-26

Overview

Because fiduciary accounting has not kept up with the times in relation to finance and economics, it’s often tricky for the fiduciary to provide a level of benefit to the income beneficiary without negatively impacting the remainder beneficiaries. In order to modernize fiduciary accounting, new provisions provide for a more modern approach using either the “trustee’s power to adjust” or “unitrusts.” We will explore these new frontier trusts and their application to your fiduciary clients. Be sure to register for all four parts: Fiduciary Accounting Part 1: Fiduciary Duty Basics & Authority Fiduciary Accounting Part 2: Tools, Rules and Relationship to Tax Fiduciary Accounting Part 3: Special Accounting Elections & Distributions from Entities Fiduciary Accounting Part 4: The New Frontier (Total Return Trusts)

Highlights

What are new frontier trusts
Situations where the use of the trustee's power to adjust or a unitrust can be beneficial.
Understanding the requirements for using a particular strategy.
Authority and requirements for the trustee's power to adjust with a problem example.
Authority and requirements for unitrusts with a problem example.
Including capital gains in Distributable Net Income (DNI).

Prerequisites

Fiduciary Accounting Part 3: Special Accounting Elections & Distributions from Entities

Designed For

CPAs and financial professionals.

Objectives

Determine the requirements of a particular strategy and whether a trust can meet these requirements
Recognize the pros and cons of making these elections
Identify the impact on both the income and remainder beneficiary from the use of these strategies

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by CalCPA (calcpa@calcpa.org). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.