Managing a Trust or Estate

Managing a trust or estate has many challenges including investments, valuations, trustee/executor concerns, beneficiary concerns, and legal and accounting issues.
You as the trustee/executor have the responsibility to make sure it all gets done.
Some CPA’s are familiar with many, if not all, of your responsibilities and can provide assistance to ease the load. A CPA can help set up a set of books and track assets, income, and disbursements. They can also help calculate payments to beneficiaries, coordinate valuation issues, prepare tax returns, prepare accounting for outside trustees and/or courts if required, and coordinate with your attorney and other professionals as necessary.
Your time is valuable. Use the tools at your disposal to get the job done as efficiently as possible. This will allow you to have more time for family care issues, work, and taking care of yourself.
Jerald Schneider is a certified public accountant providing tax, accounting and financial advice for more than 30 years. He can be reached at 661-297-1072 or by e-mail at jerald@jeraldschneider.com.