Mastering Fiduciary Accounting Income for Estate Planners and Administrators
Interpreting Operating Documents, Applying UPIA and State Law, Designing Distribution Strategies, Avoiding Beneficiary Challenges
Recording of a 90-minute CLE/CPE video webinar with 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 with BPM’s Advisory group, specializing in fiduciary accounting and consulting engagements.... | Read More
Ms. Keam is a Manager with BPM’s Advisory group, specializing in fiduciary accounting and consulting engagements. 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. Ms. Keam's current concentration is in consultations in accounting processes, forensic and fiduciary accountings for estate, trusts, and court.
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Francine Lee
Managing Director
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 Director at BPM with a specialty in estate and trust tax. He graduated from the University of... | Read More
Mr. Sandler is a Tax Director at BPM with a specialty in estate and trust tax. He graduated from the University of California at Santa Cruz with a major in Political Science in 1992.
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