The Robert A. Woloshen CPA, PC’s Role in Estate Planning

by | May 27, 2013 | Accountants

Estate Planning is simply the distribution and preservation of one’s assets during their life and after death. Estate planning services are provided far beyond financial analysis of a client. It can always be accomplished through various ways: revocable living trusts, last will and testament or probate, life estates, lifetime gifting, beneficiary designations and joint ownership. Robert A. Woloshen CPA undergoes many challenges that arise during estate planning, a process, which is often brought about by lack of coordination and lack of a well-drafted estate plan.

Robert A. Woloshen CPA, PC found out, however, that a sensual sensitivity is required in the planning area to the dynamics of the entire life of the client: goals, businesses, family, finances, and lifestyle. Developing an Estate Planning strategy is essential after reviewing the client’s liquidity, legal documents goals, assets, and other necessary aspects of the client’s life. These are based on available constraints and resources, which are specifically designed to fulfill the estate planning goals of the client.

Key aspects in developing an estate planning strategy are:

Proposed strategies; verifications that have been proposed in order to meet specific goals;

Estate tax implications that are raised by the existing arrangements; and

the analyses of the income.

In addition, transfer of a client’s property may occur under some conditions such as by laws of intestacy, by other contract operation of law or by will. Robert A. Woloshen CPA, PC implements and monitors various recommendations to the client like purchase of insurance, gifting programs and the transfer of assets. The changes in the client’s health, family, businesses and necessary life situations in general should always be identified.

Other roles of Robert A. Woloshen CPA, PC include;

Determination of estate liquidity needs

Reviewing the client’s asset titling

Be aware of the client’s non-financial situations.

Reviewing relevant documents

Analyzing the client’s current financial situation

Identifying any anticipated assets

Finally, the client should be able to identify their goals, necessary strategies and all consequences of the projected tax. The role of Robert A. Woloshen CPA, PC is to clarify the client’s Estate Planning goals, which mostly directs and preserves the disposition of their assets. As a result, estate tax liability reduces hence providing an adequate liquidity to the client.

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