Estate Planning and Administration

Estate Planning and Administration

Preserve your legacy with estate planning

You’ve worked hard to build wealth and financial security for your family. But if you’re like most people, you’ve probably delegated estate planning to the realm of things to be done “someday.”

Most people dislike confronting their own mortality, but proper estate planning can help you:

  • Ensure your wealth is distributed according to your wishes
  • Reduce what you pay in federal and state income taxes
  • Ensure that your family members are taken care of financially
  • Designate who will manage your business interests

Appoint an estate planning advisory team

Your estate planning advisory team will likely include your attorney, who provides counsel and legal documents; your insurance agent or broker, who ensures your family has the necessary insurance coverages; and your CPA, who knows your financial situation and provides bookkeeping and tax advice. You will also want to include your investment advisor, and possibly a professional trustee, if a trust will continue beyond your lifetime.

If you’re a business owner, you will also want to have a business attorney and valuation expert involved in planning.

Involving your family members will acquaint them with the members of your advisory team, help them to understand what is being done and why, and avoid confusion and distrust later. It can also give your family peace of mind, security and confidence should you become disabled or pass away.

Get unbiased financial and tax guidance

When you’re ready to plan your estate, work with the professionals at KRS CPAs. You’ll get experts who will first talk to you about your existing plans, your desires for how you want your assets distributed, and any other concerns you have about putting your estate in order. We review your financial situation and estimate what your estate will be worth and what will be owed in taxes and probate fees. We then work with you on the specifics about how you want your estate distributed and ways to ensure your heirs pay the least amount of estate tax possible.

At KRS CPAs, we have no products or investments to sell you. Our only interest is in providing you with the most clear-sighted and objective guidance in securing your estate.

We can also assist in essential estate and trust administration tasks, such as filing appropriate inheritance tax returns, federal estate tax returns, fiduciary income tax returns, and fiduciary accountings.

It’s never too early to plan. KRS CPAs can help you get started.

Our Estate Planning & Administration services include:

  • Pre- and post-mortem planning
  • Lifetime income and legacy wealth planning
  • Charitable planning
  • Shelters, trusts, and funding vehicles
  • Gifts and bequests
  • Planning for special needs and under-age children
  • Individual and estate tax preparation
  • Formal and informal accountings
  • Fiduciary guidance
  • Trust and estate administration
  • Beneficiary designation and asset titling
  • Business legacy and succession planning
  • Transfer or disposition of business interests
  • Review of buy-sell agreements
  • Litigation support and business valuation