We are also the go-to partners for foreign business owners looking to set up a company but are not familiar with Bulgarian processes and legislation. Trust Accounting Services A trust is the transfer of assets to a trustee to manage during or after the death of the maker. The trustee must manage the property to reap the most benefits for the named beneficiaries or heirs within the control of the trust. Just like a will, the trust must be created during one’s lifetime. However, unlike a will, a trust can be effective during the lifetime of the maker. A trust that is effective during life is called an inter vivos trust while a trust that is effective only afterlife is a testamentary trust. An individual or a corporation can be a trustee. Not only must the trustee work in the best interests of the beneficiaries, but the trustee must also conform to tax and legal requirements. If you need help creating or managing your trust, you may want to think about paying for trust accounting. Here is some basic information about trust accounting. Trust accounting involves separating the expenses of a trust into different categories.
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