A trust accounting protects beneficiaries against negligent or underhanded trustees, but it also provides essential protection for trustees against liability. In simple terms, a California trust accounting is a window into how a trustee is administering the trust. But that’s … Read More
As a trustee, you have considerable power, but as the saying goes, “With great power comes great responsibility.” A California trust accounting is an essential component of a trustee’s duties. Following trust accounting rules ensures your accounting is compliant and … Read More
The misappropriation of trust funds is a severe breach of a trustee’s fiduciary duty that can have significant consequences, but for beneficiaries, it can be difficult to detect. With the help of an expert trust accountant, you can rest assured … Read More
Trust accounting in California is an essential form of transparency and, ultimately, protection for beneficiaries. Legally, trustees must provide beneficiaries with this financial statement that illustrates how they are administering the trust at least once annually. But simply preparing an … Read More
Many different kinds of trusts exist, but they fall under two categories: revocable trusts and irrevocable trusts. Understanding the difference between the two is crucial to trust accounting in California. Generally, the difference is simple – grantors can change the … Read More