Distribution to a beneficiary-trusts laws and accounts, Financial Accounting

Distribution to a beneficiary

Before distribution to a beneficiary, the investments will be re-valued and the profits or losses divided between the beneficiaries as follows:-

  • Capital investments, equally, or according to the terms of the will or trust deed;
  • Accumulation investments, according to the balances on the Income

 

Accumulations Account at the commencement of the year. A beneficiary may be paid out the share due to him in one of the following ways:-

  • Exact division of each investment,
  • Appropriation in specie by agreement and adjusting either way in cash,
  • All investments realised and the amount due to the beneficiary paid to him.
Posted Date: 12/15/2012 1:07:55 AM | Location : United States







Related Discussions:- Distribution to a beneficiary-trusts laws and accounts, Assignment Help, Ask Question on Distribution to a beneficiary-trusts laws and accounts, Get Answer, Expert's Help, Distribution to a beneficiary-trusts laws and accounts Discussions

Write discussion on Distribution to a beneficiary-trusts laws and accounts
Your posts are moderated
Related Questions
How Accounting objectives can be achieved There are two main ways by which this can be achieved: All the accounting records are maintained at the head office; or Each

APPLICATION FOR GRANT 1) An application for a grant of representation ("representation" means the probate of a will or the grant of letters of administration) is made in such a

Q. What is Bequest? Bequest - A gift by will of personal property. If bequest is money to the extent it's paid out ofincome from property it is taxable to the recipient. Normal

Can I send you my homework?

1.what are the various fields of accounting and how do they differ? 2. how are revenues and expenses affect the owners' equity account? 3. why are revenues and expenses recor

A Company policy calls for keeping safety-stock equal to 25% the forecasted demand for that month.  The company currently has a work force of 12 people.  It takes a worker 3 hours

what are the concept of economic substance over legal form under accounting for lease?

a. Explain a major factor which led to the introduction of International Financial Reporting Standards (IFRS). b. Explain how users of financial information benefit from IFRS.

Assets                                                       2011                                                                        2010 Non Current Assets

what is a maximum leverage ratio covenant designed to control