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Probate
IS™
We
Have To Get This Estate Organized!
Probate
IS™ is a series of computer programs which answers the
costly problem of preparing fiduciary reports containing transaction
data from historical records.
Probate
IS™ reports on trusts, guardianships and estates supervised
by the courts, in the formats required by most states. It also will
prepare reports conforming to the Uniform Fiduciary Accounting Principals-Modified
Account Format.
Probate
IS™ prepares both the Federal Estate Tax and some state inheritance
tax returns. Both testamentary and non-testamentary assets are combined
in order to prepare tax returns.
Approach
Historical
transactions can be processed from an existing trust accounting
system, whether through on-line data exchange, or by the exchange
of magnetic media. When data is not available by download from another
system, it can be entered manually using the trust accounting programs
that come with Probate IS.
Transactions
are entered using transaction codes and CUSIP or ticker symbols.
Transaction entry may be in any sequence, from one or multiple workstations.
As long as the transaction is correctly coded, the system will sort
it to the proper schedule of the state format selected. These same
codes are used for the tax return schedules as well. The coding
in the transaction record is used by the system to classify, summarize
and report, without the need for typing or word processing.
Daily
data entry reports in historical ledger sequence make it easy to
detect errors of omission or incorrect data entry. Transactions
are easily identified and hence, easily corrected when in error.
This same ease of correction is valuable when subsequent events,
such as court-initiated disputes, require changes in valuation.
©
Copyright 1989, 1999 Trust Service Company, Inc.
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If you have any questions while reviewing our website, please use our typewriter and send e-mail to tsc@tscusers.org
