Trusts and Estates: Why You Need a CPA

Estate planning and trust planning can be complicated issues that bring plenty of questions: How do you avoid the costs and delays that generally accompany probate court? How can you provide for children from a previous marriage? What’s the best way to transfer assets to heirs? Is it best to establish a trust fund? How do you liquidate your estate to cover taxes and other expenses?

We at PKHB CPAs, an established NY CPA firm with offices in Columbia County, Greene County, Ulster County, and Albany County have the answers to these questions and more. Every situation is different. That’s why our qualified advisors get to know you, your financial goals and your unique circumstances before we create a worry-free solution for your beneficiaries. You’ve worked a lifetime to build wealth, and we understand your need to protect assets and minimize tax consequences in planning for your family’s future.

Estate & Trust Planning

As we age, transition planning becomes more important. Dividing property assets and stock options or determining who will inherit the business—these decisions and many more like them are all part of trusts preparation and transition planning. Your lawyer will set up your trusts and estates, but you need someone who knows all about taxes. The tax and planning experts at PKHB can be the initial step in this process.

First, let us explain the difference between estates and trusts.

A trust is a fiduciary agreement that allows a trustee, or third party, to hold assets on behalf of a beneficiary or beneficiaries.

Estates are the net worth of a person’s combined assets.

A good estate plan can provide for a seamless continuation of your business, distribute assets to your spouse and children, perpetuate charitable giving, finance an education and ensure that your healthcare is managed the way you choose. Trusts are great for minimizing state taxes or protecting an estate from lawsuit and creditors. They are flexible, variable and complex, and each type has advantages and disadvantages.

Our CPA firm of expert accountants offers a wide range of comprehensive estate and trust planning for individuals, families and businesses. These services include:
• Preparation of Federal and State Estate Returns
• Preparation of Federal and State Fiduciary Returns
• Preparation of Federal Gift Tax Returns
• Development of Estate Plans
• Representation at Estate and Fiduciary Tax Audits with IRS or New York State

Leadership Profile

Richard Koskey, CPA
A. Michael Bucci, CPA
Nancy Patzwahl, CPA
Suzanne Muldoon, CPA
Jean Howe Lossi, EA

Bradley Cummings, CPA, CVA
Carol Howe, EA

Katie Zell, CPA
Matthew VanDerbeck, CPA
Gary Newkirk, CPA

Gary Newkirk, CPA

Thérèse Wolfe, CPA

Matthew VanDerbeck, CPA
Thérèse Wolfe, CPA

PKHB has the experience and tools to meet your estate planning and trust needs.