As a trustee, you have a significant fiduciary duty and likely must conduct a trust accounting, which is a complex financial task a CPA specializing in trusts has the experience and expertise to perform. Alternatively, maybe you are a beneficiary and want to ensure that a trustee is managing the trust correctly. Regardless of your situation, trust accounting is a time and labor-intensive responsibility with a razor-thin margin for error.
Working with an expert accountant is essential. Learn what makes Marcia Campbell Riverside’s top trust accountant:
Related Article: A Beginner’s Guide to Trusts and Trust Accounting
Why Do You Need an Expert Trust Accountant?
If you have recently been appointed a trustee, an essential component of your role is to conduct an accounting.
- Accounting for trust income and expenses
- Accounting for all trust assets
- Accounting for all other transactions (disbursements, distributions, etc.)
- Maintaining monthly and annual financial records
- Complying with trust terms
- And much more
Failing to comply with these requirements has severe consequences on the trust, trustee, and beneficiaries, so working with a professional is of the utmost importance.
Related Article: California Trust Accounting: What Documents Are Needed?
What Separates Marcia Campbell as a Trust Accountant?
When it comes to trusts, several situations can require conducting an accounting. For example, a beneficiary may feel that a trustee has mishandled assets.
If a beneficiary suspects a breach of duty, they can request an accounting to preserve the integrity of a trust. However, as a trustee, accounting is often simply part of the job. Whether you are a trustee fulfilling your duty or a suspicious beneficiary, we can help.
As expert trust accountants, the team at Marcia Campbell CPA has extensive experience in crafting objective, precise, in-depth, and balanced trust accounting financial statements in compliance with probate codes. Our trust accounting services include:
- Gathering all relevant financial documents and information
- Analyzing all necessary trust accounting details
- Regular communications to ensure all involved parties are on the same page
- Formatting reports per the probate code
- Adhering to state probate laws
- Reviewing accountings performed by other firms
- Serving as an expert witness if needed
More importantly, we always take the time to understand each client’s situation and goals and explain financial transactions in language trustees, beneficiaries, and all other parties can understand.
We create accurate, detailed, and reliable annual statements for clients to relieve the stress associated with this process. With Marcia Campbell, our trust accounting and private fiduciary services ensure your trust is always in expert hands.
We genuinely care for each client, and our specialty services alleviate the pressure of this task. Our reputation as the top CPA specializing in trusts is rooted in this exceptional customer service.
Related Article: Top Mistakes Trustees Should Avoid with Trusts
Do You Need an Expert Trust Accountant? Let Us Help.
Trust accounting is a financially complicated task with significant implications for an estate, its beneficiaries, and the trustee. Only an expert trust accountant has the skills and experience to comply with shifting regulations. Whether you are a trustee who feels overwhelmed by the complexity of this task or a beneficiary who suspects a trustee is not fulfilling their duty, working with a CPA specializing in trusts is of the utmost importance.