Law Offices of Connie Yi, PC - estate planning
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

Always relevant, especially now: estate planning tax considerations

| Mar 8, 2019 | Uncategorized |

Tick, tick, tick.

For some American tax filers, those surpassing seconds can seem akin to a default mantra that begins to sound in their heads around this time each year.

Yes, it’s … tax season.

For legions of individual and joint filers in the Bay Area and nationally, getting square with federal and state tax regulators each spring is not a big ordeal.

In fact, it is routinized and often yields similarly predictable results with each passing cycle. Fill in the boxes, apply the usual formulas, spit out the results and send off the returns. And, of course, either self-applaud the refund or begrudgingly write the accustomed check.

For other select filers, though, tax season can seem fraught with peril and replete with uncertainty marked by varied complexities.

Often it is filers with overseas holdings that stress the most. Their angst is understandable, owing to the years’-long spotlight that the IRS, Treasury Department and U.S. Department of Justice have aimed at that demographic. Not only are the rules, processes and penalties relevant to filers with foreign holdings dense and technical; they are ever-changing, as well.

Of course, there can be far more than overseas assets to think about concerning the tax realm and filing season. Estate planners ranging from high-asset filers to individuals and families with relatively modest holdings often have tax-linked concerns and issues that need to be addressed and resolved.

A proven estate planning attorney can closely help with the process. A few select legal advocates combine tax-related legal acumen with specialized credentials conferred as a certified public accountant and can provide even more value for a client relying upon professional advice and representation.

Tax planning and compliance is a core concern for most filers. An experienced planning professional stands ready to help.


FindLaw Network

Recent Blog Post

Is estate planning necessary for young people?

Misconceptions exist about the relationship between age and estate planning. Yes, older people may prioritize estate planning for reasons related to advancing age and health concerns. That does not mean only older California residents benefit from the process. Young...

What are the responsibilities of a fiduciary?

Residents of California may want to learn more about the role of the fiduciary and their responsibilities. Because fiduciary duty may be a requirement among certain professions, clients and professionals should know more about what this is. The meaning of fiduciary...

5 factors to consider when choosing a guardian

For parents, one of the biggest reasons they decide to create an estate plan is to ensure their child will be cared for no matter what. It isn’t easy to think about a tragedy where a child may lose both their parents before they turn 18, but parents have to plan for...

View More Blog Posts