Fiduciary Trust & Estate Accounting Services

In Tax

The Fiduciary/Trust & Estate Accounting Services (FTEAS) team provides comprehensive fiduciary/court accounting services to banks, law firms, family offices and individual trustees and executors across the country for trust and estate matters. 

Related topics Tax Family business

What EY can do for you

Fiduciary accounting (sometimes also called court accounting) is a statement of the receipts and disbursements managed by the executor or trustee during a specific period of time, properly allocating all transactions between principal and income. FTEAS has extensive experience with the fourteen states that have required formats and with the National Standard Fiduciary Format used by all other states.

FTEAS provides consistent work product and has controls in place designed to protect clients’ data. We deliver exceptional client service with a quick turnaround, depending on the size and complexity, typically 4 to 12 weeks. Expedited service is also available. Our competitively priced process has no required minimums and is performed on an accounting-by-accounting basis. Our services are typically more cost-efficient than most paralegals, which is especially beneficial in litigation matters.

For our Fiduciary/Trust Tax Services clients, and other clients who use Thomson Reuters ONESOURCE™ Trust Tax software, we are able to download the tax data to prepare most periodic trust accountings, making our services even more cost-effective and time-efficient.

Our fiduciary accounting services include:

  • Annual, biennial and triennial accountings
  • Conservatorship and special needs trusts
  • Event-driven accountings:
    • Court-ordered
    • Attainment of age of a beneficiary
    • Death of a beneficiary or trustee
    • Exhaustion of funds
    • Resignation or removal of trustee
    • Divorce
    • Fiduciary litigation
  • Inventories
  • Affidavit of closings
  • Estates
  • Accountings to help manage risk due to lost history and missing documentation
  • Accountings to protect fiduciaries from liability and assist with planning

The EY advantage

Ernst & Young LLP is the only Big Four firm with a team dedicated exclusively to fiduciary accountings. Our national team of more than 20 professionals has extensive experience preparing complicated accountings spanning decades of transactions, using multiple state formats to satisfy local jurisdiction filing requirements. 

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