Accountants' Roles and Responsibilities in Estates and Trusts was initially introduced in 2006 as Fiduciary Duties and Liabilities: Tax and Trust Accountant's Guide.This book assists accountants who serve various functions in the general area of trusts and estates, as advisors or as trustees, and in the preparation of various documents and governmental filings.
Unlike many other texts on the general subject of trusts, Accountants' Roles and Responsibilities in Estates and Trusts provides the outline for the types of issues an accountant is likely to face, and how they are best handled. The reader is advised on how to handle circumstances many accountants encounter infrequently, and will be able to differentiate situations where accounting expertise and background will and will not prepare the accountant to serve his or her clients’ needs.
In addition, the book provides guidance in areas where accounting expertise and licensure does not provide the necessary training and where other professionals, primarily attorneys, will be needed to work with or for the accountant. In such a case, the duties and responsibilities of each professional involved in the matter at hand is discussed as well as the duties of the professionals involved (jointly and severally) to the client.
Topics and Contents
Sources of Fiduciary Law, Regulations and Standards
A Primer on Estate and Trust Issues
Guidance for Accountants in the Role of Estate Planners
Accountants As Part of An Accountant/Attorney Team
Measuring Liability and Damages for Fiduciary Breaches
An Analysis of the Risk When An Accountant Has Multiple Roles
Estate Administration
Duties to the Client
Duties to Beneficiaries and Third Parties
Disputes
Litigation
About the Authors
David Glusman has over 34 years in public accounting and consulting. David currently provides litigation support and expert witness testimony. He has provided litigation services in matters involving the allocation of reinsurance obligations among Lloyd’s entities, lost profits calculations, business valuation issues, accountants’ malpractice and many economic damage issues. He has been recognized as a national expert on physician and hospital related billing and managerial issues, including fraud and abuse, physician compensation models and information systems organization.
David has authored over 100 publications and has made presentations to medical schools and universities such as Wharton, Temple and Widener, as well as hospitals, the American Bar Association and the Pennsylvania Institute of Certified Public Accountants. He has served on the editorial board for publications such as Litigation Support News Letter and the CPA Health Niche Advisor, as well as writing articles for Practice Development Institute.
A graduate of Pennsylvania State University in 1971 with a Bachelors of Science degree in Accounting, David is a member of the American Institute of Certified Public Accountants, the Pennsylvania Institute of Certified Public Accountants, the American Society of Appraisers, the Institute of Business Appraisers, the Association of Certified Fraud Examiners, the National Health Lawyers Association, the Delaware Valley Healthcare Council, Medical Group Management Association. David also holds the designations of Diplomat of the American Board of Forensic Accountants and Certified Fraud Specialist.
Gabriel Daniel Martin Ciociola was born in 1971 in Wilmington Delaware. He graduated from Boston College in 1992 with a B.A. in Philosophy. In 1996 he received a Juris Doctorate from Harvard Law School. After clerking for state and federal courts in Boston, he worked for five years as a civil litigator in private practice. He is now a Staff Attorney at the United States Court of Appeals for the First Circuit. He resides in Salem, Massachusetts.