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Estate Planning: Attorneys and CPAs ' Perfect Together
Whether or not a law firm offers its clients estate planning services, the input of a CPA is vital to ensure that a client receives the most comprehensive estate planning advice. Law firms without estate planning capabilities should work closely with accounting firms that do have estate planning expertise in order to realize an additional revenue stream from existing clients. Law firms don't need expertise in estate planning; all they need is the ability to ask their clients the right questions.
Law firms that do offer estate planning services to their clients should be consulting not only with the clients, but also with their clients' CPAs, as well. Unless these attorneys have the most thoughtful and detail-oriented of clients, they may be working without key information ' financial and otherwise.
An estate planning team can, and in many cases should, be comprised of not only attorneys and CPAs, but also insurance brokers, investment professionals, actuaries, and appraisers to ensure the creation and maintenance of a well-rounded plan.
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