Learn all there is to know about fiduciary accounting and the
Uniform Principal and Income Act
which has been adopted by most states. Check list of states
This DVD features numerous examples from Mr. Ostrove's law practice, citing cases in great detail. You will not only learn how to prepare an account for presentation to the court or to beneficiaries.
You will also learn how to protect yourself from potential liabilities, how your duties are defined and how to properly bill for your services.

This DVD is completely interactive. You can instantly access 150 DVD Chapter markers with your remote control. Navigate among 15 DVD menu screens. See complete Table of Contents of DVD.

See hundreds of charts of accounts and visual summaries as
VIDEO OVERLAYS throughout the program. You don't need to read the book while  interacting with the DVD.

In this course you will learn, not only how to prepare the summary of account and all supporting schedules, but also how to prepare a complete report, to go along with the summary and supporting schedules. You will know how to prepare a complete package, ready for Court filing and for presentation to the beneficiaries of a trust or estate. This course is essential for well-rounded knowledge, because, in recent years, the use of trusts in estate planning has become widespread.

Major Topics:

• Trust and estate accounting vs. GAAP
• Trust and estate accounting vs. tax accounting
• Accountants’ responsibilities with respect to preparing accountings for trusts and estates
• Fiduciary Liability Insurance
• Where to start
• Trustee's legal liability
• What is a "diversified portfolio"?
• The "Wherefore" paragraph in court filings
• The Uniform Prudent Investor Act
• Net income from a trade or business
• Duties of trustees, executors and their accountants
• Depreciation and depletion in trust and estate accounting
• Court Guidelines - Hourly Rates for attorneys and CPAs
• Options
• Derivatives
• Out-of-court accountings

EXTENSIVE SAMPLES OF ACCOUNTING METHODS

MANY HANDY CHECKLISTS

SAMPLE ACCOUNTS FOR ESTATES AND TRUSTS WITH BACKUP SCHEDULES

PREPARE FOR PROBATE

Watch Quicktime Movie clips from the DVD

* YOU MUST CHECK WITH YOUR STATE BOARD OF ACCOUNTANCY BEFORE SUBMITTING TEST MATERIAL FOR CE

This course is excellent and a “must see” for any accountant who is contemplating serving or currently serving as a trustee or other fiduciary. The instructor, Mr. Ostrove, obviously has a wealth of information and experience to offer. He provides a sobering viewpoint about fiduciary engagements. You learn in this course that serving as a fiduciary can have significant responsibilities, potential for liability, and, sometimes, little compensation.

The technical material in this course is excellent. Specific subjects that were of interest to me were well covered in the course, including “accounting income;” depreciation and depletion; and the difference between income and principal. The course book is an excellent reference guide. The DVD itself is well organized with a table of contents and therefore can also serve as a reference tool.

I highly recommend this DVD and accompanying course book.

Steele E. Benson, CPA

I skimmed through the adobe version and it looks great - I have never seen anything like this in 25 years of tax work. Thanks for a great addition to what was a dearth of education materials available on P&I for trusts and estates.

Carol I. Katz, CPA
Deputy Tax Director
Leonard J. Miller & Associates
Baltimore

David Ostrove, a native of Los Angeles, has practiced accounting and law in Los Angeles for four decades. He is a widely respected tax, transactional and trial lawyer, Professor of Law and Accounting at Southwestern University School of Law, in Los Angeles (Sr. Adjunct), for the past 34 years, as well as an experienced expert witness in cases involving both accounting and legal matters. Mr. Ostrove is President of Ostrove, Krantz & Ostrove, in Los Angeles. He is Past-President of the American Association of Attorneys-Certified Public Accountants.

Mr. Ostrove studied accounting at Los Angeles City College and UCLA; licensed as a California CPA in 1957, while attending night law school, at Southwestern University School of Law in Los Angeles, and has been a California lawyer since 1960. He has for many years presented the course "Fiduciary Accounting For Estates and Trusts" to CPAs and Attorney-CPAs all across the country. In addition, he has authored several books for the California CPA Education Foundation; "Advanced Corporate Tax Problems;" "The CPA as an Expert Witness-The Fundamentals (LIT 1);" "The CPA as an Expert Witness-Case Studies (LIT 2); "California Community Property--What The CPA Must Know." He also authored "Introduction to Accounting for Lawyers" (1994), for the California Continuing Education of the Bar.

Mr. Ostrove has also taught the course "Accounting and Auditing for Trusts and Estates" to bank trust officers and other estate planning professionals in many states.