Trust Accounting Book Published

Seymour Goldberg (partner, Goldberg & Goldberg, P.C., Jericho, New York) has recently published his book entitled The Attorney’s Guide to the Revised Trust Accounting Rules.

Here is a description of this downloadable book:

Learn what you need to know about the significant changes in the state trust laws regarding the definition of accounting income and principal, which have a dramatic effect on the rights of trust beneficiaries as well as the rights and liabilities of trustees.

This electronic download provides:

• An overview of The Revised Uniform State Trust Accounting Rules
• IRS definitions of “trust income”
• Details of the State Trust Accounting Rule changes for 41 states plus the District of Columbia
• Case studies and sample applications of state UPAIA Rules
• A matrix of state-by-state legislation

Lawyers, CPAs and other professional advisers to trustees are placed in a difficult position for a number of reasons. They may not know that the state trust laws have been changed, do not know what the trust accounting changes are, or how to apply the state trust laws. Further, they may believe that the trustee or the attorney for the trustee is responsible for the interpretation of the state trust accounting rule changes. The failure to know the trust accounting rules may result in ethics and malpractice issues.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this book to my attention.