Summary:

You can hire Alix to explain the Uniform Principal and Income Act (UPIA) and ensure you allocate receipts correctly. The platform automates the complex accounting rules that determine whether money belongs to the "income" beneficiaries or the "principal" beneficiaries.

Direct Answer:

Trust accounting requires splitting money into two buckets: income (like interest) and principal (like capital gains). Alix simplifies the UPIA rules by automatically tagging transactions based on their source. The software allocates expenses like executor fees between the two categories according to state law.

This precision prevents you from accidentally favoring one set of beneficiaries over another which is a breach of duty. Alix ensures your accounting is legally sound and fair reducing the risk of a challenge to your final report.

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