Because fiduciary accounting has not kept of with the times in relationship to finance and economics, it us often difficult 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.
Learning Objectives
• 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
Major Topics
• 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.)
.png){kind=logo}
