Detail Put Your Trust in Trustees   Oleh:  Spalding, Albert D. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 186 no. 5 (1998), page 69. Topik: trusts; trust; trustees Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.7 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The Uniform Laws Commission (see box) has introduced two new model statutes that change the statutory responsibilities of trustees and fiduciaries. The first is the Uniform Prudent Investor Act, which 36 states have enacted into law and others are currently considering. (See exhibit 1) The second, a new Uniform Principal and Income Act, was approved by the commission on July 31, 1997 (UPIA - 97). Several states already are considering adopting it. The Uniform Prudent Investor Act raises the standard of care for trustees and other fiduciaries by requiring them to incorporate modern portfolio theory into their investment management strategies. UPIA - 97 unlinks a trustees investment strategy from its traditional impact on allocating principal and income. A trustee subject to the Uniform Prudent Investor Act, for example, might shift some trust investments out of the stock market during times of high volatility and invest the proceeds in bonds. While this would increase interest income, UPIA - 97 allows the trustee to reallocate some of that income to principal beneficiaries so income beneficiaries do not enjoy a windfall triggered solely by the trustees compliance with the Uniform Prudent Investor Act. From the CPA s perspective, both laws have some important features, which are discussed here. CPA s themselves occasionally serve as executors and trustees, but even more frequently they provide tax, accounting and investment advice to clients who are acting as executors and trustees. CPA s can play an important role in helping clients understand and properly respond to the changes these laws have made. And still more CPA s have clients who are the beneficiaries of trusts or estates where a knowledge of these laws may prove helpful in preparing personal tax returns or doing investment planning. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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