From our experience, clients achieve their goals and create better estate plans when their professional advisors work together as a team. Too often, professionals, whether attorneys, CPAs, etc., try to be the sole advisor. Not only can this approach lead to mistakes and inefficiencies, but it also does not achieve the best result for the client. Important considerations can be overlooked and only come to light after the client’s plan has been concluded at which time the overlooked consideration can impact the client negatively.
When professionals work together and coordinate every step of the plan, each professional on the client’s team will advise on the aspects of the plan for which he or she is most qualified. A team approach ensures that all important client considerations and goals are taken into account during the planning stages so that they are included in a comprehensive plan.
At Flott & Co. we emphasize with our clients the importance of the team approach to achieve the best result. In the end it does not matter which member of the client’s team contributed more or less to the overall effort. What matters is that the client achieves the best result.
We use our experience in the following areas to work on estate planning teams with other professionals:
-Estate Planning (District of Columbia, Illinois, Maryland, Michigan, New York, and Virginia);
-International Estate Planning (including planning for and taxation of foreign estates and foreign trusts);
-Non-resident and pre-immigration tax planning;
-Business Succession Planning (Domestic and International);
-Tax compliance for US citizens living abroad;
-Foreign investment in US real estate;
-Estate and Gift tax returns (filing for both US citizens and nonresident aliens);
-Cross border tax planning for businesses and individuals;
-State and local taxation for businesses and individuals (District of Columbia, Illinois, Maryland, Michigan, New York, and Virginia); and
-Taxation of foreign citizens living in the US.