Fiduciary and Conservatorship Accounting
by Alan L. Olsen, CPA, MBA (tax)

Duties of the Trustee

Fiduciary and Conservatorship Accounting discusses the basic principles and issues of fiduciary and conservatorship accounting. Some trust accounting and tax concepts are also addressed to provide a more complete understanding of fiduciary accounting.

The responsibility associated with the fiduciary role performed by individuals in the capacity of the trustee, executor, or conservator has increased significantly from the original standard of mere prudence to now include duties to manage and invest the assets under their control for the benefit of all potential beneficiaries. To aid in this function, fiduciary and conservatorship accounting provides a reporting mechanism whereby beneficiaries are kept informed about their fiduciary's performance.

Doing Business in the United States
by Alan L. Olsen, CPA, MBA (tax)

Foreign Corporations, Individuals and Trusts

Doing Business in the United States discusses the basic issues of foreign corporations and individuals wishing to do business in the United States.

This booklet contains detailed guidelines concerning the following areas of interest:

• Choice of Business Entities
• U.S. Income Tax Issues for U.S. Corporations Owned or Controlled by Foreign Companies or Individuals
• U.S. Income Tax on a Foreign Corporations
• U.S. Income Tax Issues for a U.S. Resident and Non-Resident Aliens

Estate and Gift Tax Planning
by Alan L. Olsen, CPA, MBA (tax)

Family Wealth Preservation Strategies

Estate and Gift Tax Planning is a short booklet that provides useful advice to preserving your family's wealth.

An estate is a legal entity that originates upon the death of an individual. It is created to administer all the remaining legal affairs of the decedent and to distribute the assets owned by the decedent. Once all the legal requirements of the state are satisfied, all property is distributed and the estate terminates. An estate is a taxable entity that generally lasts only for a few years. However, it can continue for several years if the correct distribution of the decedent's wealth is in question. If an estate's administration is unreasonably prolonged, the IRS can terminate the estate for tax purposes.