Estate Planning requires an INTERDICIPLINARY Accounting, Legal and Financial TEAM
We offer Interdiciplinary Estate Planning and Administration Services through Estate Admin Associates, LLC for the following reasons.
After years of providing CPA services to attorneys administering and planning estates,
we realized that they did not have adequate access to the professional number crunching resources to prepare efficient plans. Many avoidable errors were made by
well-meaning professionals who lacked important skills of other disciplines.
We realized that no single professional discipline could best meet the
complicated needs of an estate plan or its administration.
For example, attorneys, planning and administering estates, often prepare taxes and do the accounting and number crunching; however,
their practice discipline isn't in preparing taxes and doing accountings.
The accountants/CPAs, who understand the mechanics of taxes, accounting and numbers better than attorneys
cannot offer legal advice. Neither attorneys nor the accountants/CPAs understand
the art of creating and preserving wealth as well as financial professionals,
the group least involved in the process.
Each discipline needs the others to address most effectively the many
disparate concerns estate planning and administration raises. Furthermore, this area
is becoming more not less complicated with each tax “simplification”.
Sometimes egos get in the way of good estate or administration plan. In order to preserve neutrality we created Estate Admin Associates, LLC which functions as a back office number crunching and advisory arm to estate planning professionals. Estate Admin treats each matter as a business plan. When your estate/succession plan is complete you will own more than legal documents, you will have a business plan against which you can measure results and take corrective action when necessary.
Benefits of Estate Planning
Estate planning on your own can be complicated and costly. And the list is endless... state
taxes, bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance,
IRA's, 401K's, annuities, burial or cremation costs, and intent regarding death-postponing treatment to name a few. Not
knowing your legal and financial rights often ends up costing you more in the end.
Thoughts of estate planning often bring more questions than answers: Could an heir be too young to inherit?
Should the inheritance be given at a certain age? Is the intended beneficiary in a shaky marriage with divorce as a
possibility? Are there children from a previous marriage? Should inheritance be protected from potential creditors of
the heir? Are there taxes that can be avoided? Are you able to avoid the probate court rules, delays, and
costs?
Planning what happens to your estate when you're gone can seem frustrating
and intimidating without qualified help.
You may feel that you're too young to care about estate planning. Or,
perhaps the reminder of death makes you uncomfortable. You might be tempted to put the whole thing off,
assuming that
it will just take care of itself. In all cases, estate planning ends up saving your
family lots of time, heartache and money.
And we can help.
Every estate planning situation is different. In order to help you, we want to know you, your unique situation, and
the nature of your relationships. We offer discussion, recommendations and useful research tools to make your
planning simple, efficient, and worry-free. We are available throughout the process for further discussion
regarding questions, change of circumstances, and alternatives. At every step, we'll be there with you.
We help you...
- Clearly define your estate planning goals.
- Organize and create your estate planning team (experts on law, finance, and taxes) if you need one.
- Evaluate and recommend estate planning options.
- Prepare, organize and review your estate planning documents including current wills, trusts, health care and power of attorney.
- Decrease the problems and expenses associated with probate.
- Lessen taxes at time of death.
- Arrange for management of your estate in the event you are incapacitated.
- Draft a working plan for conserving and effectively managing your estate after death.
- Transfer the assets of your estate to heirs the way you want.
- Organize fair and adequate liquidation of estate to cover taxes and other expenses.
- Amend your plan as needed.
You also get help with...
- A referal to compentent Legal Counsel for Living Wills, Trusts and other Estate Planning vehicles.
- Planning for Lifetime Family Wealth Transfers.
- Quantifying the benefits of using Estate Planning vehicles in managing Family Partnerships and other business relationships.
- Leaving money to charities efficiently.
- Showing you the benefits merging an Estate Plan into an Income Tax plan for overall tax efficiency.
The hassles and red tape associated with estate planning can be daunting, and the benefits outweigh the cost....you don't need to do it alone. We will assist you through every step of the process.
