Inevitably, all property accumulated during one's lifetime must be transferred either during life or at death. In fact, record amounts of personal wealth will transfer to the next generation in just the next 10 years alone! Estates and trusts are two of the vehicles by which people can transfer their wealth, and they are two more reasons why clients need your expertise.
Practitioners now have an increasing opportunity to provide services relating to estates and trusts. While some practitioners will actually serve in the role of fiduciary, most will be involved with providing accounting and tax services. This Guide covers the accounting, reporting, and fiduciary considerations accountants need to know in order to be prepared to offer estate and trust services.
Some of the important new features are: