Each year, an estimated 3 million 1041 tax returns are filed. Of these returns, 2 million are filed by individual trustees, while the rest are filed by corporate or institutional trust companies. Therefore, it is likely that most CPAs will at some point serve as trustees or have clients that serve as trustees.
CPAs are in a unique position to help trustees develop and follow a deliberate governance process, which saves time, reduces personal risk, and ensures compliance with duties of care.
This course will help fiduciaries reduce their personal risk by showing them how to create a compliance library that demonstrates they have fulfilled each of their duties of care under the Prudent Investor Act. Developing this library demonstrates the trustee has acted prudently and in good faith.
This library will include the following documents:
• Duty to have a plan
• Duty to balance risk and return
• Duty to diversify
• Duty to pay only reasonable fees
• Duty to prudently delegate
Review fiduciary duties of care under Uniform Prudent Investor Act
Identify a process for the development and maintenance of a fiduciary library
Share “best practices” for fiduciary governance procedures
Reduce trustee’s personal liability
Anodos Advisors
Principal
josh@anodosadvisors.com
8058991245
Josh Yager is a recognized content expert on the issues of fiduciary duties relating to the management and oversight of trust assets. He lectures extensively on the policies and procedures for conducting investment manager audits to CPAs, attorneys, and professional fiduciaries throughout the country. Josh is Managing Partner at Anodos Advisors and a licensed attorney. Prior to founding Anodos in 2005, Josh worked for fifteen years as an investment advisor with Mercer Advisors. Josh likes to read books about dead presidents.
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