What estate planning in Los Angeles means for you and your family

It is a goal for many families to ensure the financial security of their loved ones. It makes things easier, and your life will feel more organized. That is why there are tax professionals who help with estate planning in Los Angeles, and they are experienced with tax, consulting, and advisory services. There are tax professionals that will offer a cohesive approach which will balance your need for a wealth transfer and asset protection with matching business and capital accumulation goals.

Efficient Services

Estate planning in Los Angeles professionals (such as CPAs and financial planners) work with high net worth clients. They can help you with accounting, auditing, and tax services. Moreover, they have a full range of estate planning and trust methods as well as strategies that include:

• Trust planning

• Irrevocable trusts

• Qualified personal residence trusts (QPRTs)

• Grantor retained annuity trusts (GRATs)

• Charitable remainder trusts (CRTs)

• Charitable lead trusts (CLTs)

• Intentionally defective grantor trusts

• Life insurance trusts

• Dynasty trusts

• Family limited partnerships (FLPs)

• Annuities, and

• Restructured business assets

These estate planning in Los Angeles services are made to lower your taxes, maintain flexibility and keep control of your assets.  Tax services will also help you with risk tolerance and management, insurance planning as well as retirement goals and regulatory compliance. Another main area for tax planning is unrelated business income tax (UBIT).   This area includes looking for any UBIT liabilities that you may not be aware of, or if you have anything that is related to business and trade activities. Moreover, your tax professional can help you differentiate between your income use and income sources. Are you looking to save money? Your tax professional can help you look for deductions, as well as expense allocations.

Going the extra mile

The estate planning in Los Angeles services include staying up-to-date on tax laws and regulations, and even learning about new opportunities as well as the appropriate times to change strategies. You will get assistance in evaluating, improving, and monitoring tax controls, functions and processes. Some other areas they can help you with are:

• Multi-state tax

• Income and franchise tax

• Sales and use tax

• City business tax

• Business property tax

• International tax

• Audit representation

• Tax accrual preparation -under ASC 740 (formerly SFAS 109)

• Balancing book/tax differences

• Tax return preparation and review

• Quarterly tax filings, and

• Tax return amendment

Estate planning in Los Angeles is important for several reasons, and some of the main ones are:

1) The estate plan – It will stabilize you and your family’s finances for the future. It will allow you to manage you and your family’s future more efficiently.

2) Your Will- This is the foundation of your estate planning. It will allow you to pick your beneficiaries, and everyone will be able to get what they want from the plan.

3) Strategies to minimize on estate taxes – When you reduce your taxes to a minimum, you will be able to lower your taxes

4) Trusts will get you benefits- you can use trusts that will protect your assets and make the transfers to your beneficiaries.

You will benefit from the help of estate planning in Los Angeles professionals, and they will help you with your personal estate planning. It will help you and your family stay organized with finances, and become more efficient.

Miller Kaplan is a leading CPA firm in Los Angeles, CA and we provide estate planning ( millerkaplan.com/services-2/estate-gift ) services that adhere to a comprehensive approach balancing our clients’ wishes for intergenerational wealth transfer and asset protection with parallel business and capital accumulation goals. For more on basic estate planning information, visit About.com.