Navigate the Accounting Process - with Practical Hints and Tips Along the Way
The numerous schedules required with the accounting - and types of assets or transactions that may arise - can make completing the final account a challenge. In this program, our seasoned faculty will simplify the task of preparing the final account with straightforward instruction, cautionary advice and practical tips. Lay the decedent's affairs to rest with a thorough accounting - register today!
- Walk through the final accounting process and timetable.
- Gain practical, step-by-step instruction on completing the final account.
- Find out what to do with assets and receivables not listed in the inventory.
- Discover how to properly determine income, rents and gain on assets.
- Understand the common problems that can arise and how to solve them.
Session Time: 2:00 PM - 3:30 PM Eastern
Presenter: Michelle B. Carron
- Final Accounting Timeline, Deadlines, and Process Overview
- Using Initial Inventory as a Starting Point
- Adding Other Assets and Receivables not Listed in the Inventory
- Determining and Recording Income, Rents, Gain on Assets
- Reporting Debts and Creditor Claims Paid
- Steps to Full and Proper Distribution of the Decedent's Assets
- Timing the Final Distributions
- Getting the Final Accounting Approved and Release of the PR Bond
- What Happens if Beneficiaries File Objection(s)?
This program is designed for attorneys. Accountants, trust officers, estate planners and paralegals may also benefit.