Course Details

Fiduciary Accounts: Soup To Nuts

Webinar: ID# 1023916
Recorded CD
About This Course:
This webinar will focus on the truly collaborative nature involving multiple parties each with their own roles and responsibilities.

Topics will include a description and identification of the various types of fiduciary accounts and their differences and commonalities.

Fiduciary accounts have one thing in common, they are all controlled by some form of documentation. Obtaining a clear understanding of the document's pertinent provisions is an essential first step for all of the involved parties.

This class will teach you how to analyze, understand and quickly recognize the controlling document's most important provisions and relevance.


What Is a Fiduciary Account and When Is It Needed?
  • Savings or Deposit Account, the Funds of Which Are Owned by One Party but Are Managed by Another (Such as an Agent, Bank, or Trustee) for the Owner's, or a Beneficiary's, Benefit
  • Typical Examples
  • Probate Estate
  • Trust
  • Custodial Account
  • Escrow Account
Identification of the Primary Parties Involved, Their Functions and Responsibilities
  • BULLET 1
  • Fiduciary
  • Grantor, Settlor, Trustor
  • Trustee
  • Fiduciary Documentation
What Are Some of the Common Elements in Fiduciary Documents?
  • How to Recognize and Understand Key Provisions and Their Practical Application
  • Trust
  • Trust Certification
  • Power of Attorney
  • Flow Charts
Roles and Responsibilities – Collaboration Required
  • Trustee
  • Attorney
  • CPA
  • Investment Advisor
  • Insurance Agent
  • Probate Court
  • Reporting and Compliance Requirements
About The Presenter

Ronald A. Friedman, CPA, CFP, PFS
  • Founding partner of Friedman Brannen LLP
  • In addition to being a Certified Public Accountant, he is a Certified Financial Planner with more than 30 years of experience in the financial services industry
  • Member of the Personal Financial Planning Section of the AICPA and is certified as a Personal Financial Specialist
  • Unique CPA practice focuses almost exclusively on estate and gift tax and related issues, which include lifetime estate tax planning, tax compliance, post-mortem trust administration, representation before the Internal Revenue Service, and complex fiduciary accounting
  • Frequent speaker for professional organizations, including the San Diego Estate Planning Council, the California CPA Society, The North County Bar Association, The La Jolla Estate Planning Trust and Probate Section and the Institute of Management Accountants (IMA) Annual Conference and Exposition Tax Panel; has been a featured guest on a number of local radio shows and has published many articles in national professional journals
  • Bachelor's and Master's degrees, University of Connecticut
Fiduciary Accounts: Soup To Nuts
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Course Details
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