Documents necessary to prepare a fiduciary accounting

We prepare fiduciary accountings for estates, trusts and conservatorships for use by courts in California. These fiduciary accountings are mandated by the Uniform Principal and Income Act (UPIA) and the Probate Code. They require a great level of detail. In addition, different courts have slightly different requirements. We have prepared these fiduciary accountings for a number of counties in the State of California and are familiar with the rules and formats they must follow.

A fiduciary accounting generally does not looks like a standard bookkeeping or regular accounting. The courts are used to seeing these accountings put together with a series out “inflows” and “outflows” (“charges” and “credits”) versus the standard “debits and credits” familiar to accountants.

Fiduciary accounting requires specific detailed schedules with summaries and certain supplementary schedules. If the accountings are not accepted by the court because of format issues, the court may disallow the cost of re-preparing the fiduciary accountings.

Fiduciary accounting

Fiduciary accounting

There are different fiduciary accounting presentation requirements based on the type of fiduciary. One may be a trustee, a conservator or or a guardian. The requirements are different depending on your position. We are familiar these these requirements and can guide you through the process.

Our fiduciary accountings are backed up with the standard CPA’s “Double Entry Accounting” so we can communicate with attorneys, trustees, beneficiaries and offer them solid backup to evaluate our work. This transparency reduces the potential for controversy and allows each stakeholder an understanding of the financial issues.

Please call, text or email for additional information. We would be very happy to speak with you.