Hi All,
Unlike last year when I thought was going to sell my practice, I am still in the game. I was approach by a legal firm in my building yesterday. They want to know if I would like to do some Trust and probate bookkeeping for them. I have not done any Trust or probate work before. Now, my firm does bookkeeping for hand full of clients on Quickbooks, Xero, and MYOB. Here are my questions that I need your advice or guidance:
1. Is their any books you can recommend to me on bookkeeping for Trust and probate. I see some on Amazon but I want to see if anybody could recommend one to me.
2. Do you think this is a business I should get into. Pro/con you might have.
3. Can you charge more for this services than normal bookkeeping? I talked to many accountants and no one seems to want to get into this type of business.
4. If I work under a trust lawyer or probate layer and just do the bookkeeping, would i be under the fiduciary rules?
Thanks for any advice or guidance you can give me.
Ron