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
Identify fiduciary duties of care under Uniform Prudent Investor Act
Identify a process for the development and maintenance of a fiduciary library
Determine “best practices” for fiduciary governance procedures
Idenfity methods to reduce trustee’s personal liability
"An excellent speaker who really held your attention"
"Every CPA who has trustee clients should hear Josh speak. Very helpful information for our trust clients. I would like to have heard this years ago-- glad to have someone like this around."
"Exceeded my expectations, even though at first, I thought it wouldn't pertain to me after all!"
"Loved the examples provided in the slides as to how to comply with the duties bestowed on to the trustee."
"Excellent presentation with an unquestionably knowledgeable presenter."
"Good excerpts from the "real" world. Thank you!"
Josh Yager is a recognized content expert on the issue 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, a consulting firm that acts as a Chief Compliance Officer for trustees. What makes Anodos unique is that it does not manage money or sell insurance. Anodos helps trustees understand their legal obligations, develop procedures to meet these obligations and act as a trustee representative to execute these governance disciplines. What makes Anodos unique is that it does not manage money, sell insurance or accept referral fees. Our only service is helping trustees do a good job.
CPAwebengage, Inc. (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
CPAwebengage Inc. 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222