Accounting for trusts and estates / Alan S. Acker, J.D.
2006
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Items
Details
Title
Accounting for trusts and estates / Alan S. Acker, J.D.
Added Corporate Author
Imprint
Arlington, VA : Tax Management, [2006]-
Description
1 online resource.
Frequency
Updated irregularly
Series
Accounting policy & practice series ; 5202-3rd.
Formatted Contents Note
Detailed analysis. Introduction
History of the trust and its enforcement
Defining the problem
Duties of the fiduciary
Defining income and principal
Uniform principal and income acts
When the right to income begins
When the right to income ends
Allocation of receipts to principal and income
Allocation of disbursements to principal and income
Transfers between principal and income
Trustee's power to adjust under the 2000 Uniform Principal and Income Act
Trustee's power to convert to unitrust
Presentation of fiduciary accounts
Uniform Prudent Investor Act
Working papers.
History of the trust and its enforcement
Defining the problem
Duties of the fiduciary
Defining income and principal
Uniform principal and income acts
When the right to income begins
When the right to income ends
Allocation of receipts to principal and income
Allocation of disbursements to principal and income
Transfers between principal and income
Trustee's power to adjust under the 2000 Uniform Principal and Income Act
Trustee's power to convert to unitrust
Presentation of fiduciary accounts
Uniform Prudent Investor Act
Working papers.
Summary
"Bloomberg Tax Accounting Portfolio 5202-3rd, Accounting for Trusts and Estates (Accounting Policy and Practice Series), explains how to account for income and principal of an estate or trust. Income and principal must be determined for a number of reasons. Receipts and disbursements properly must be allocated to income or principal as the case may be. Under the terms of trusts and wills, amounts distributable to beneficiaries and the timing of distribution often depend on whether an item is classified as income or principal. A fiduciary (trustee or executor) must properly account to beneficiaries. Correct income tax returns must be prepared."
Note
Published: Washington, D.C., 2006-2007.
Bibliography, etc. Note
Includes bibliographical references.
Source of Description
Description based on contents viewed on May 2, 2019; title from description page.
Location
www
Linked Resources
Alternate Title
BNA Premier package.
Language
English
Record Appears in