Estate accounting, also known as fiduciary accounting, is needed when handling the financial transactions of a trust or estate. The activities typically involve recording transactions, issuing regular reports on the estate and determining whether receipts and disbursements should be assigned to categories as income or principal.
Estate accounting often involves handling the financial obligations that come into play when someone dies, and ensuring the fiduciary requirements are met. Estate accounting may also handle activities related to trust and trustee beneficiaries.
If you are involved in administering an estate upon a death, or are creating or managing a trust, our accounting team is experienced in handling the specific requirements of estate accounting. Contact us today for an appointment, or call (757) 483-3500.