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1 David M. English & Robert Whitman, Fiduciary Accounting and Trust Administration Guide [i] (2002)

handle is hein.ali/fatag0001 and id is 1 raw text is: Fiduciary Accounting and Trust Administration Guide David M. English Robert Whitman Here is the most current standard-and practical advice- for estate settlements and trust administration. Fiduciary Accounting and TrustAdmninistration Guid shows you how to review fiduciary accountings; use performance accounting; prepare executor's and trustee's accounts; and handle valuations, schedules, and distributions. This essential guidebook for practitioners who settle estates and administer (or advise on the administration of) trusts clarifies the terms, concepts, and procedures involved in fiduciary accounting and trust administration to help you determine the necessary valuations and allocations, prepare the proper schedules, make the correct distri- butions, and, when necessary, file a court accounting. This volume explains the principles and the model account formats that have resulted from the National Fiduciary Accounting Standards Project with the goal of making them more accessible to practitioners and more readily accepted by the courts. This book shows you how to: Assemble the material needed for a reasonable review; e Perform a reasonable review; Draft an engagement letter Determine the client's role Interpret the governing instrument; e Uncover ghost accountings; Review specific accountings; and - Set the goals for and conduct a performance accounting. In additiod, using the Uniform Trust Code as background, Fidu'ciaryAccomntng and.Trot Adinistration Guide analyzes the major issues and problems in trust adminis- tration. From governing law to liabilities of the trustee, the text reviews the modern standards concerning how trusts should be run and applies them in a straightforward fashion. How can a trust be modified? How do spendthrift provisions affect creditors' rights? What duties does the trustee owe beneficiaries? These and many other of your questions are answered here. Useful appendixes serve as model executor's and trustee's accounts, include a sample letter of engagement for review of fiduciary accounts, and describe available fiduciary accounting and performance presentation software.

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