Auditing for Innovation
December 3, 2024
The process of estate planning is a fundamental component of financial management. It is a comprehensive means of securing your family’s future, ensuring that your wealth is distributed precisely as per your wishes upon your demise. In Ross Corners, as is the case in the rest of the country, proper estate planning can help your beneficiaries avoid a lengthy probate process and potentially hefty estate taxes. This crucial financial reckoning can make the difference between a smooth transition of legacy and a protracted legal hassle on top of emotional torment.
Estate planning isn’t available exclusively to the affluent. Estate here refers to everything you own—houses, cars, savings, investments, and personal possessions. Without an effective estate plan, state probate court will decide the fate of your assets and guardianship of minors, regardless of the size of your estate. Surprisingly, around 60% of Americans haven’t even laid out a simple will, which points to a significant lack of understanding regarding the importance of estate planning.
The implications of estate planning extend beyond wealth management to factors such as nominating guardians for minor children, leaving instructions for your care if incapacitated, and even designating a caretaker for pets. It provides a sense of security, an assurance that your loved ones won’t be left to the mercy of impersonal state laws. To overlook estate planning is to allow the state to decide the distribution of your assets.
Estate planning can be complex, filled with legal jargon and nuanced tax implications. A Certified Public Accountant (CPA) with specialized knowledge in estate planning can help make sense of these complexities, ensuring that your wishes are adequately documented and implemented.
CPAs offer a level of expertise that software and DIY approaches cannot. Rooted in their thorough understanding of tax laws, CPAs can help you formulate strategies that not only manage the distribution of your assets but also minimize the burden of estate taxes. Here are a few key benefits of leveraging a CPA’s skills in estate planning:
– Proficiency in legal and tax implications: Estate tax laws are intricate and change frequently. A CPA stays updated and can adeptly navigate these changes to your advantage.
– Personalized solutions: Each estate is unique and requires a custom plan. CPAs can provide tailor-made solutions that are most beneficial for your specific situation.
– Coordinating with attorneys: A CPA can smoothly interface with estate attorneys, bankers, and insurance agents, thereby ensuring your plan is cohesive, comprehensive, and consistent.
Established in 1981, DeFreitas & Minsky LLP is a well-respected CPA firm offering a full suite of financial services, including estate planning. Even though our firm physically operates out of New York, we have been extending our services to clients in Ross Corners through advanced communication and data sharing technologies.
We take pride in our seasoned team of CPAs who are equipped with the knowledge, tools, and experience to efficiently guide our clients in estate planning matters. Our mission centers on understanding each client’s unique financial landscape and personal needs. We devise estate plans that reflect our clients’ wishes, safeguard their wealth, and ensure smooth succession for their beneficiaries.
DeFreitas & Minsky’s long-standing reputation in providing unparalleled service quality sets us apart. Our CPAs stay updated on tax law alterations, adjust strategies accordingly, and collaborate with other estate professionals involved in your planning process, ensuring a seamless and effective plan for your estate.
We believe in the principle of effective communication: educating our clients about all steps involved, addressing their concerns, and updating them about the progress every step of the way. DeFreitas & Minsky LLP is more than just a CPA firm; we are your trusted partners in securing your family’s future. Trust us, with your estate planning concerns, to deliver this service following our reputation for integrity, precision, and trustworthiness.
Countdown to a new year where you keep more and owe less.
Curating your financial portfolio with the precision of a master artist.
Secure and strategize your estate, where your legacy is the law.
With a CPA by your side, consider your financial puzzles already solved.
Elevate your bottom line with strategic planning, where every deduction is a victory.
Your fiscal blueprint to building a future of prosperity.
Passing the torch with grace, ensuring your legacy lasts.
Where your financial dreams get a roadmap.
The boardroom's answer to a phoenix rising, renewed and ready.
Where every detail is a clue to making the deal of the decade.
Maximize your returns, where every dollar counts.
Minimize the tax footprint of trusts and estates with precision.
Turns your goodwill into good tax news and lasting legacies.
Elevate your financial strategy from the ground floor to the penthouse.
Turn property into profit, not taxes, with the magic wand of exchanges.
Secure the future of your assets, where your will is the way.
Turning the complex web of regulations into your strategic advantage.
Turning payday into a breeze, for you and your employees.
516.689.1515
30 Jericho Executive Plaza Suite 500W, Jericho, NY 11753
Info@dmcpallp.com
© COPYRIGHT 2024 DEFREITAS & MINSKY, LLP