Auditing for Innovation
December 3, 2024
Estate planning, a term often confined to the realm of the wealthy and affluent, is actually an essential task applicable to any individual—regardless of financial standing. At its core, estate planning involves outlining your wishes regarding how your assets are dispersed after your passing. But it stretches beyond just distribution—it’s about ensuring your loved ones are provided for, reducing familial disputes, and creating a continuing legacy.
From drafting a will to establishing trusts, power of attorney, to healthcare directives, estate planning uses different tools to ensure your estate is methodically managed after you’re gone. It’s about confronting difficult questions and making hard decisions today to protect your loved ones tomorrow. Furthermore, estate planning is not a one-time task. As life evolves—marriages, births, divorces, deaths—your estate planning needs to evolve too, to reflect these changing circumstances.
Forest Hills Gardens, with its culturally rich community and beautiful architecture, is a symbol of legacy and heritage in itself. Thus, when it comes to estate planning in Forest Hills Gardens, the stakes are high. It’s often more than just property—it’s about preserving a piece of history, a part of your story for generations to come.
When it comes to estate planning, especially in areas with high-value assets like Forest Hills Gardens, the role of a good CPA is indispensable. While many might think of CPAs as tax experts or accountants, they’re much more. They serve as financial strategists, helping you navigate the complex world of estate planning.
Primarily, a CPA helps in understanding tax laws relevant to your state—a critical factor in estate planning. For instance, New York laws on estate and inheritance tax can significantly influence how you plan your estate. A CPA’s expert knowledge can guide you on how to minimize your tax liabilities, thereby maximizing the inheritance you leave behind.
Then comes the critical aspect of valuation. Property, stocks, bonds, jewelry—an accurate evaluation of these is no easy task. Yet, part of a CPA’s expertise is precisely this—giving you a comprehensive valuation of your assets. They can provide you with a more accurate picture of the financial scenario and aid in better distribution planning.
Finally, CPAs can also help in managing trusts and foundations. Essentially, CPAs not just help in creating your estate plan, they’re integral to maintaining and updating it as well. Estate planning is not a static process, and periodic review often calls for expert financial eyes—a role that a stellar CPA, like those at DeFreitas & Minsky LLP, play.
In the world of estate planning, expertise is crucial, but empathy is often underplayed. DeFreitas & Minsky LLP is proud to offer both. Servicing New York for years, they’ve mastered the art of estate planning, understanding the nuances of handling high-value estates, particularly in areas like Forest Hills Gardens.
At DeFreitas & Minsky LLP, they work closely with you to understand your specific needs and objectives. Serving high-income individuals, they have the strategic acumen to manage complex financial scenarios while maintaining a dedicated focus on privacy and discretion. Key reasons why clients trust them for their estate planning needs:
▪ Expertise: Skilled in handling high-value assets and complex financial situations.
▪ Focus: Each client’s estate planning strategy is custom-tailored to their specific needs.
▪ Empathy: They understand the emotional aspect of estate planning, hence handle with sensitivity.
In short, when it comes to estate planning in Forest Hills Gardens, DeFreitas & Minsky LLP know what it takes to create a plan that is legally sound, financially optimal, and personally sensitive. They ensure the estate you’ve built becomes the legacy you leave. After all, when you’re shaping the future, shouldn’t you choose those who understand the past? With DeFreitas & Minsky LLP, you can.
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