Your assets, including real property, bank accounts, and other items of value are considered a part of your estate. Regardless of the size of your estate in San Bernardino County, you may be in need of estate planning services in order to protect what you have and pass it on to your loved ones.
SORTING IT ALL OUT
Estate planning is the process of arranging your long-term financial needs and how you want your assets to be divided under specific instructions. Typically, it includes writing a will, planning for your business, managing retirement accounts and investments, avoiding probate, and minimizing estate taxes.
No Estate Too Small
An estate plan is vital whether you own nothing or a very large portfolio. Smaller plans focus on who receives your property and who must settle your final debts upon your passing. If you have a larger estate, you will likely focus on how to preserve the assets and how to reduce taxes after your death.
You may be able to create your own will and other important documents, but this isn't recommended, especially if you have no legal training. A Rancho Cucamonga CPA who is trained in writing wills and dividing assets is the better choice to ensure your documents are legally binding and are not challenged.
Whether you decide to hire a CPA in San Bernardino County for estate planning or try to do it yourself, do not procrastinate on creating your plan in case the unexpected happens. Too many times people are caught unexpectedly without a will or an estate plan allowing the government or an undesired person or entity to take a much larger chunk of your hard earned assets.