Fiduciary Accounting Part 4: The New Frontier-Total Return Trusts 2024

Because fiduciary accounting has not kept up with the times in relation to finance and economics, it's often tricky for the fiduciary to provide a level of benefit to the income beneficiary without negatively impacting the remainder beneficiaries. In order to modernize fiduciary accounting, new provisions provide for a more modern approach using either the "trustee's power to adjust" or "unitrusts." We will explore these new frontier trusts and their application to your fiduciary clients.

Presenters - Jacqueline A. Patterson

Designed For: CPAs and financial professionals.

Role Level - Entry-level/Individual contributor; Manager/Senior Manager; Director; Sole Practitioner

• Determine the requirements of a particular strategy and whether a trust can meet these requirements
• Recognize the pros and cons of making these elections
• Identify the impact on both the income and remainder beneficiary from the use of these strategies

• What are new frontier trusts?
• Situations where the use of the trustee's power to adjust or a unitrust can be beneficial.
• Understanding the requirements for using a particular strategy.
• Authority and requirements for the trustee's power to adjust with a problem example.
• Authority and requirements for unitrusts with a problem example.
• Including capital gains in Distributable Net Income (DNI).

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