Certified public accountants (CPAs) play a significant role in the estate planning process. They help a homeowner assess their financial situation for any potential tax implications of their estate plan. CPAs provide valuable input for these implications on trusts, gift tax rules, and other tax-related problems.
There are several benefits of utilizing the experience of a CPA for an estate plan, including tax planning, asset valuation, trust accounting, estate administration, and business succession planning.
When an estate planning attorney and CPA combine their skillsets, they can map out an estate plan much more effectively by analyzing the value of a client’s assets before creating a client’s draft. These assets include real estate, stocks, and any other investments.
An appraisal must be completed for just about any asset in an estate plan. CPAs can analyze the value of assets through these appraisals or even market value.
Ball Morse Lowe highly recommends that each of their planning clients not only contact the firm but reach out to a local CPA, as well.
With the combined efforts of an estate planning attorney from Ball Morse Lowe and an experienced CPA, every estate plan can be customized to each client’s needs.
CPAs can help each client reach their fullest potential with their estate plan. Combined with an estate planning attorney, clients can rest assured their estate plans are in the right hands.
For more information, call Ball Morse Lowe at 405.701.5355 or email clientintake@bml.law.