Estate planning is arranging matters in such a plan and format that they are carried out as you wish. Inasmuch as this is a “Plan” when properly drafted documents allow you to change the plan as circumstances warrant, and as with any plan, it is strongly recommended it be revisited periodically to be sure it is still your “Plan” and is on track to achieve your desires.

How To Achieve

There are many things to consider. How is this achieved? We believe you start with discussing with us at CSOAC your wishes and ideas. Since planning does include personal and tax planning, we believe we at CSOAC, as your CPA firm, are in the best position to work closely with you on same. However, it also requires the professional assistance of an attorney, knowledgeable in estate planning, to draft the various documents in the manner that will assure that your wishes are achieved. Then depending on facts, circumstances and documents, it may require the assistance of a professional trust officer to assist in administering at a future time. Depending on what is wanted, many times it is advantageous to work with a life insurance agent who is trained, knowledgeable and has experience in funding requirements for such various plans. We at CSOAC have a network of such experts available to work with and/or we work with such persons of your choice that are knowledgeable in such affairs.

Anytime you have a question, please give us a call at CSOAC and we will answer same either on the phone or set up a meeting to discuss.

IF AT THE TIME YOU ARE IN FOR YOUR TAX APPOINTMENT, YOU HAVE QUESTIONS OR WISH TO DISCUSS ANY ASPECT OF SAME, WE CERTAINLY ARE WILLING TO TAKE THE TIME TO DISCUSS YOUR QUESTIONS.

Who Needs Estate Planning

We have a tendency to believe it is for our retirement years. However, don’t forget Estate Planning is to set in place a plan to manage our affairs in the way we would, and wish them to be managed, at that time when we can no longer manage them personally. Thus, it is for all ages. For example, if you have young children, who is to raise them or how are their finances to be managed, etc? REMEMBER, if you don’t have a plan, the state has one for you by law. In most cases this will not achieve your desired wishes, and certainly didn’t consider them in it’s drafting of the laws.

While estate planning is often done for tax reasons, it must be remembered, there are also other reasons you need estate planning.

While it is recognized that estate tax credits are presently on the rise, it must be recognized that this is temporary, and that the value of estates also keep rising and that is not temporary.