Category: Estate Planning, Trust and Probate Law Category: Estate Planning, Trust and Probate Law (show less)

Speaker
Jacqueline A. Patterson
JD, CPA, MBT
Buchanan & Patterson

On June 29, 2023, the Governor signed into law Probate Code Sections 16320 -16383 to become effective January 1, 2024. These new state statutory accounting rules repeal the California Uniform Principal & Income Act (UPIA), add new features, and rearrange the structure and order of the prior code.

Topics
Introduction and Background of State Statutory Accounting Rules for Trusts and Estates
Overview of the Layout of the California Uniform Fiduciary Income and Principal Act noting the similarities and differences in the two sets of accounting rules
Analysis of Changes and Expansions in the new Act
Interaction of Fiduciary Accounting with Fiduciary Taxation