What is a trust accounting?

Fiduciáři is someone who is in the position of trust. In the trust accounting, the obliged trusted person is obliged to keep detailed financial records in the administration of confidence or at the hearing as the executor of the manor of the deceased. Fuciars can also control assets for a minor child until they reach the age of the majority. Records may be filed in a court in legal proceedings and it is necessary to be accurate.

Confidence consists of principal, which is the original amount of cash or other assets that are placed in it and income. From this amount, any capital gains are added, while this amount is deducted by expenses and losses from capital. Any debts incurred by confidence are also deducted from the main. Income can be in the form of interest or dividends obtained from investment. The income is stated in the accounting statement, because the recipients may vary for each form of income, depending on the conditions of the trust or will of the individual.

If any part of the assets held in the trust or forming part of the estate sold the administrator or executor, the statement of accounting accounts must show the "accounting value" of the property and the sale price. Profit or loss is recorded in records. This number can be used to calculate capital gains or capital losses.

6 This method of displaying records makes it easier for anyone who reviews the statement of trust accounting to see if any statement is missing. For this purpose, income for rent, interest payments or received dividends would be used.

Any payments made of trust or thestate are listed in the Fiduciar Trust accounting statements. They may include costs incurred in managing trust or settlement of the estate. In the case of trust, all incomes paid to recipients are given and the documents end the remaining balance.

Once the trust accounting statement is prepared, in some cases copies of the Úvíč are providedAsthiped parties and courts. Command recipients have the opportunity to protest against any of the items they contain. If no objection is registered, the ward may distribute revenues from trust and money and property that forms the estate.