Estate Planing

How can a CPA help with estate planning?


A CPA can be an important member of your estate planning team along with other professionals such as attorneys, insurance agents, investment advisors and bank trust officers.

Your CPA can bring her knowledge of taxes to ensure that you create a proper estate plan by telling you the tax implications of every decision you make.  This helps you to ensure that your estate plan minimizes the taxes and maximizes the portion of your estate that will be passed on to your beneficiaries.

With increasing rates of taxation and inflation it is more important than ever to have a CPA on your side to make it as simple as possible for you to preserve your estate.  We all work hard to build our wealth, and it makes perfect sense to start planning the disposition of your property early in order to ensure that your heirs receive everything entitled to them when you pass on.  

Working with a CPA can also help you to gain reasonable expectations for the future of your estate.  Many believe that estate planning isn't necessary because they don't believe their estate is too modest.  However, it is possible that your estate can become quite significant by the time you die.  A CPA can use their knowledge of market trends and finances to help predict the future potential of your estate.  Obviously, predictions are never perfect, but in many cases they are close.  These predictions could help you make informed decisions now.

It's never too soon to start an estate plan.