Do I need an attorney, CPA, Enrolled Agent (EA) or other professional(s)?
With these questions in mind, it is a good idea to discuss the matter with several attorneys and CPAs or EAs. Ask about how much experience they have had and ask for referrals. This process should be similar to locating a good physician. Locate other individuals that have had similar experiences and ask for recommendations. Finally, after the individual(s) are employed and begin to work on estate matters, make sure the lines of communication remain open so that there are no surprises during administration or if the estate tax return is examined. Finally, most estates engage the services of both attorneys and CPAs or EAs. The attorney usually handles probate matters and reviews the impact of documents on the estate tax return. The CPA or EA often handles the actual return preparation and some representation of the estate in matters with the IRS. However, some attorneys handle all of the work. CPAs and EAs may also handle most of the work, but cannot take care of probate matters and othe
For most simple, small transfers (less than the annual exclusion amount) you may not need the services of a professional. However, if the transfer is large or complicated or both, then these actions should be considered; It is a good idea to discuss the matter with several attorneys and CPAs or EAs. Ask about how much experience they have had and ask for referrals. This process should be similar to locating a good physician. Locate other individuals that have had similar experiences and ask for recommendations. Finally, after the individual(s) are employed and begin to work on transfer matters, make sure the lines of communication remain open so that there are no surprises. Finally, people who make gifts as a part of their overall estate and financial plan often engage the services of both attorneys and CPAs, EAs and other professionals. The attorney usually handles wills, trusts and transfer documents that are involved and reviews the impact of documents on the gift tax return and ove
Related Questions
- Was the professional designation of the tax return preparer - CPA, attorney, enrolled agent, or unenrolled tax return preparer - part of the selection process for either the letter or visit?
- Do I need an attorney, CPA, Enrolled Agent (EA) or other professional(s)?
- What if I disagree with the examination proposals?
