Estate planning: Do you need a CPA or a lawyer?

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There are many reasons for which people decide to make an estate plan. Some are interested in reducing taxes, while others are simply looking to protect beneficiaries.  Regardless of the reason, it’s important to create a thorough estate plan, so that family members and loved ones are well provided for. The question now is who you turn to for estate planning advice. Well, you have two main options: the CPA or estate lawyer. If you want to find out the answer, then please continue reading. This will help your business.

Choosing a CPA

CPA is an acronym and it stands for certified public accountant. A certified public accountant is a trained professional who has passed a very difficult exam and is licensed by the state. You’re likely to find CPAs in almost all English-speaking countries. If you would like to hire an expert, please visit this website. Do you really need a CPA? You can’t even imagine how many people have asked themselves this question. If you need estate planning advice, the answer is a definite “Yes”.  What the trained professional does is ensure that all the pennies add up. Simply put, an accountant adds value to the client, meaning you, by taking charge of the situation. You need a financial advisor on your team, so it’s recommended to hire a certified public accountant.

Estate lawyer

If you’re planning to make modifications to the estate plan, then you need to consult with a lawyer. When it comes to things like legalities, you are better off by hiring an attorney. If there is one thing that lawyers know, that is how to deal with legal aspects. What you need to understand is that when it comes to estate planning, you have many options at your disposal. If you can’t seem to be able to decide between those options, then you needn’t worry. That’s why you have an attorney. To help you select the best alternative. And plan for the future, of course. The lawyer will draw up the necessary paperwork and ensure you’re safe from a legal standpoint.

Do you need a CPA or a lawyer?  

Until now, it’s clear that a CPA provides financial advice, while a lawyer provides legal advice. Which player do you need on your team? Both. The thing is that you shouldn’t even think about choosing between the two. In matters such as estate planning, you need all the help that you can get. In other words, you need a certified public accountant and an estate lawyer. It’s as simple as that. The CPA will handle things like bookkeeping, tax returns, and so on and so forth.

The attorney, on the other hand, will help you with the administration process. It’s true that at some point or the other the 2 professionals will occupy the same area, but that’s not necessarily a bad thing. Do you know why? Because the pros will help each other. This is the best thing that can happen to your business, bringing integration. So, what are you waiting for?

January 2022