Estate & Trust Planning

Estate planning is a process through which professionals assist their clients in creating, using, preserving and protecting their wealth. It is much more than simply drafting a will. A well thought out estate plan will improve the welfare and comfort for an individual and their family.

The Team Approach

Estate planning professionals are required to understand many different laws and disciplines. The estate planning team consists of several professionals, including the CPA, attorney, life insurance professional, trust officer and financial planner. Each professional has a unique role and must be aware that certain aspects of the planning process may only be engaged in by a licensed professional practicing in that specific field.

The CPAs Role in Estate and Trusts

As CPAs, MC&E is more familiar with their client’s financial affairs and therefore the most likely professional to lead the team in advising a client on their estate planning needs. MC&E has invested a significant amount of time, money and energy in the field of estate planning and compliance. As your CPA, MC&E is ready to develop, classify and summarize the data obtained from our first-hand knowledge of your assets, liabilities, income and expenses. We are a key member of your estate planning process for several reasons:

• Knowledge of income tax planning and compliance.
• Proven organizational skills.
• Analytical prowess.

Objectives and Tax Minimization

The primary goal of an estate plan is not tax savings. The best estate plan design creates a technique that achieves your estate settlement objectives and saves taxes. The estate planning team is most effective when they obtain maximum savings in federal and state estate and income taxes, while at the same time satisfying your estate settlement goals and objectives.

Estate and Trust Services Offered by MC&E

• Compliance work, including:
• Federal and State Fiduciary Income Tax Return preparation
• More than 100 clients are served annually in this capacity
• Federal and State Estate Tax Return preparation
• Financial Statement preparation and related accounting services
• Representation before the Internal Revenue Service on examination issues
• Business valuations
• Planning services include:
• Federal Estate and Gift Tax projections
• Estate and Trust settlement guidance
• Federal and State Fiduciary Income Tax projections

For more information on these services, contact Steve Scott, CPA, CSEP, Principal at (517) 886-9503, or e-mail him at sscott@mcecpa.com.

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