[IMGCAP(1)] The American Institute of CPAs established a new scholarship honoring the veteran chair of the Institute’s Advanced Estate Planning Conference. The scholarship will pay for one young CPA to attend the conference each year starting in 2011.

P. Thomas Austin has been the chair of the conference for three decades and the P. Thomas Austin Personal Financial Planning Division scholarship will be awarded to a CPA who has five to 15 years of accounting experience, practices estate planning or is a member of estate planning organizations and is an AICPA member.

The AICPA will announce the full criteria for the scholarship and start accepting applications in October.

Austin, 83, specializes in estate and personal financial planning and serves as a consultant to CPA firms, law firms and other professional services organizations. He worked for Ernst & Young for 38 years prior to establishing his consulting practice.

The AICPA announced the scholarship at this year’s Advanced Estate Planning Conference which began yesterday and runs through tomorrow in Washington D.C.