What Role Does the Accountant or CPA Have in Estate Planning?

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For many people, the accountant is one of their most trusted advisors. This seems to be especially true for people who own businesses. They have utilized the advice of the accountant in many diverse situations. Estate planning is no exception. The accountant can provide clarity as to registration of assets, financial statements and net worth determination, asset valuation, and current and future tax issues. Additionally, as strategies are implemented the accountant can provide tax expertise to the team and tax return preparation as needed.

What Questions Do I Ask the Accountant When I Interview Them?

What credentials do they have? Are they a CPA  (Certified Public Accountant)?

How much experience do they have regarding trust and estate planning administration and tax preparation?

For how many clients are they currently preparing Trust and Estate returns?

How do they get compensated? Hourly or flat fee?