Work Together: CPAs, Financial Planners, and Estate Planning Attorneys: Jacob Wooley, Partner

Work Together: CPAs, Financial Planners, and Estate Planning Attorneys: Jacob Wooley, Partner

As an Estate Planning Attorney, I often get mistaken for other types of professionals. A potential client may quiz me about how they should handle their investments in volatile markets, or they may have questions regarding the best approach to filing their income taxes. While these topics are certainly woven into the area of Estate Planning, I always encourage clients to use the correct professional for the job. 

For example: You should consult with a CERTIFIED Financial Advisor to help grow a portfolio that will last through retirement and fund your legacy. A CPA should help to make certain the taxation of assets is kept to a minimum, and that each asset is handled properly when it comes to the IRS. A QUALIFIED Estate Planning Attorney will make certain that no costly assets mistakes are made while alive (like giving away assets before death) and will ensure the smooth transition an inheritance to beneficiaries. 

Each professional supplies expertise in their field. It is imperative that your professionals work together for the common goal: your intentional legacy. A professional should know the limits of their expertise. Make sure that your Financial Advisor sees the value in proper estate planning and tax strategy. Make sure that your CPA offers guidance for tax strategies to help you meet your estate planning goals by avoiding a tax burden for your beneficiaries. Make sure your Estate Planning Attorney can address how best to pass your assets to your beneficiaries while limiting future court involvement, familial disagreement and more. 

True professionals are not territorial. Each advisor has a place in your life and by working together can provide an integrated financial, tax and estate plan. A complete estate plan addresses all your assets and encompasses the knowledge of all your professionals. 

Some of my most rewarding professional experiences are visiting with Financial Advisors and CPAs regarding how we can support mutual clients in achieving current and future goals. Let’s make sure we are all working together.

As always, if you have a question feel free to email us or comment below.

4 Comments
  • Pualani Jackson
    Posted at 09:19h, 16 September Reply

    I know the value of having a CPA and to create an estate plan. It just seems too expensive for 2 retirees. My husband is on social security and I plan to retire from teaching rather than return to the Covid classroom. My teacher retirement is small. Still, can we do this in an affordable manner?

    • admin
      Posted at 09:48h, 16 September Reply

      Good Morning! The most important “thing” is to have a comprehensive, written plan in place that addresses both times of temporary/permanent disability as well as death before an emergency strikes. Emergency planning and probate are much more expensive than proactive planning. We can be creative with variations of our complete portfolios from stand alone documents to payment plans to incremental document completion. Feel free to text or call 972-560-6288 to set up a free time to talk with one of our attnys or visit our website, https://estateplanningdfw.law/schedule-appt, to schedule a time to chat. Stay safe and healthy!

  • Robin Bailey
    Posted at 14:53h, 20 September Reply

    I attended one of your sessions and have your book. I have done my own preliminary planning and have everything written and know what I want to do. Would I have to pay you the same price as someone that hasn’t done this type of planning on their own. Thank you

    • admin
      Posted at 11:04h, 21 September Reply

      Hi Robin, I wouldn’t be able to give you an exact quote without seeing exactly what you have in place right now. The best option would be to talk 1:1 with Justin to find out what is available. You can see his schedule here: https://estateplanningdfw.law/schedule-appt/. I will also follow up via email with exact times we have open.

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