Accountants play a role in helping out people who lack the foresight of what happens in the future of their properties, holding a crucial and very important position in the process of estate planning.
This comes into play when properties are left behind by an incapacitated or deceased person, which often leads to tax and legal cases, and in many situations, family disputes.Â
Estate planning CPAs specialise in the field and are up-to-date on the changing laws and taxation of estate planning. They are responsible in:
- Performing audits and making an inventory of assets
- Developing plans to legally minimise taxes
- Helping make succession plan in case of death or incapacity
- Setting expectations on the future value of assets
