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Last Will and Testament Asset Valuation  Advisory

We have a background in accounting law.

 

We value assets in your will from an accounting and banking perspective.

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That said, we are not a law firm and we do not provide legal advice. However, we can direct you to consider accounting asset valuation issues that are in your best interest and serve your financial accounting needs.

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Materials and services we provide you are not substitutes for the advice of an attorney.

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Setting up "Special Needs Trusts" (SNTs) for beneficiary's  with mental disorders such as mental retardation and autism as well as physical handicap disabilities is a highly specialized niche market we serve.

Principals of our accounting firm have family members who have special needs. 

 

Our personal experiences with the special needs community can give you insights on how we can serve you and give you direction to continue to provide the love, care, and affection for the special needs children in our families and special needs community members as a whole.

 

Set-up a Special Needs Trust to help a beneficiary with disabilities receive distributions while also preserving access to public benefits like medicare, medicaid, social security disability insurance (SSDI), supplemental security income (SSI), HUD/Section 8 subsidies, and medical assistance. 

Asset valuation, financial accounting, banking, and other related issues we may recommend that you consider...

  • Present value of assets

 

  • Estimated future value of assets using predictive data analytic models

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  • Executor Powers

 

  • Parameters, guardrails, and rules to retain, sell at public or private sale, exchange, grant options on, invest and reinvest, and otherwise deal with real property or personal property. ​

 

  • Borrow money and pledge any property to secure loans

 

  • Divide and distribute property in cash or in kind

 

  • Compromise and release claims with or without consideration

 

  • Method(s) of paying legally enforceable debts, funeral expenses, expenses of last illness, and all expenses in connection with the administration of the estate and the trusts created by the will.

 

  • Employing accountants, attorneys and other persons for services or advice

 

  • Expenses

 

  • Method(s) to reimburse the Executor for the reasonable costs and expenses incurred in connection with the Executor's duties.​

 

  • Ancillary Executors

 

  • Financial guidelines based on generally accepted accounting principles (GAAP) for property in another state or foreign country when the Executor nominates an ancillary individual or corporate Executor to handle property issues.​

 

  • Digital Executor

 

  • Use GAAP to administer and distribute digital assets which may include cryptocurrency, intellectual property (patents, trademarks, copyrights...), royalty rights, and so on in addition to digital accounts in accordance with provisions in the will.​

 

  • Asset valuations of Gifts at Death which can include cash and securities donations to charities in addition to tangible personal property such as household goods, appliances, furniture and furnishings, pictures, silverware, china, glass, books clothing, jewelry, other articles of personal use, and so on.

 

  • Gift of Residue accounting and financial issues

 

  • Takers of Last Resort accounting and financial issues

 

  • Payment of Taxes​​

 

  • Taxes on estates, inheritance, or similar taxes that can include interest and penalties.​

 

  • Property qualifying fully for the charitable deduction for federal estate tax purposes restricting taxes to be apportioned or charged to qualified property.

 

  • Health Insurance Portability and Accountability Act (HIPAA) Release

 

  • The HIPAA release specifies who can access your healthcare records and communicate with your medical providers.​

 

  • The HIPAA release is especially useful for the person named as the healthcare power of attorney in conjunction with an advance directive of durable power of attorney for healthcare.

 

  • The HIPAA release helps to make medical decisions, access and settle medical bills, or receive updates about the will maker's condition.

 

  • In some cases with certain stipulations the HIPAA release can affect accounting financial ramifications of assets contained in the will.

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