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URL:  http://boards.fool.com/trust-accounting-25203270.aspx

Subject:  Trust Accounting Date:  2/21/2007  11:04 PM
Author:  czarinav Number:  7 of 7

I am doing an accounting for my deceased husband's trust. It is my first accounting. (They are due each two years.) I am the trustee and the sole beneficiary, and a retired lawyer.

I've got everything figured out and ready to go except for one thing: distributions to me, the income beneficiary. I am simplifying the figures in the following:

I took income distributions of $15,000 although I was entitled to take $25,000 (the dividends and interest) for the pertinent period. The reason for the delay is because many investments post dividends in late December and I do not know what they are until I receive statements from brokerage accounts and/or 1099's.

So, my question is: how do I handle the $10,000 owing to me (Which will not be paid to me before the end of the accounting period which ends 12/2006?)

I thought of showing the $10,000 as an account payable and then deducting it from the end balance of the 12/2006 statements. If so, however, the $10,000 payment will be made in 2007 and I am not sure how to handle that in the next accounting period.

Please comment; I appreciate any help you can give me. CZ
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