We work with fiduciaries, attorneys and individuals, providing the accounting skills needed to complement their areas of work and help them to fulfill their duties and responsibilities.
Trustees and executors, both professional and non-professional, are held to fiduciary standards that carry, along with other liabilities, a duty to account. A proper accounting may be annual or periodic, and an accounting may also be court-ordered. Fiduciary accounting is a specialized practice area that differs greatly from both tax and financial accounting. We provide trust and estate accounting services that meet court-conformed standards in all states and provide detailed information for interested parties.
We also provide fiduciary accounting support on an ongoing basis model for long term and dynasty trusts. We support trustees and executors by establishing accounting systems and practices to ensure that records are kept in a manner that is easy to manage and understand. We also provide ongoing maintenance of trust accountings and support for financial records produced for tax reporting, reducing the cost of tax preparation and redundancies.
We tailor our fiduciary accounting as well to litigation scenarios, whether representation is on behalf of a trustee/executor or on behalf of a beneficiary/heir. Not only can we prepare accountings to meet petition and litigation needs, but we also can perform forensic services related to the accounting and asset management of another party, including analysis of: financial records, investment strategy, treatment of income and principal, prudent investor standards, fees, related party entity issues, and valuation issues.