Protecting and sustaining their family’s wealth is a top concern for seniors. Aging parents want to know that their children and grandchildren will be financially taken care of. The most effective way to protect a family’s wealth from generation to generation is to enlist the help of an experienced CPA.
How Marcia L. Campbell, CPA Helped A New Client and Built A Lasting Working Relationship
Around 15 years ago, Marcia was hired to assist with an estate tax return for a woman whose husband had recently passed away. The couple shared several rental properties, and ownership needed to be split between the client and a trust. All expenses also needed to be divided in half. Marcia was able to help with these relatively complicated matters and also prepared a separate final tax return for the client’s husband who had passed away.
Sometime after their initial work together, the client had decided that maintaining her own finances had become too much of a burden. Pleased with the service that Marcia had provided preparing the estate tax return and her husband’s final tax return, the client turned to Marcia again for help. Marcia began working with the client’s son to prepare an individual tax return and a trust return every year until the client passed away.
How Marcia Built A Working Relationship with Her Client’s Son
After working with the original client for about 2 or 3 years, Marcia met her client’s adult son. Marcia worked closely with the son for about 12 years to ensure his mother’s finances were maintained and that her taxes were taken care of. After his mother passed away in 2018, seeing the excellent service that Marcia provided for his mother for over a decade, the son decided to work with Marcia on his own finances. The son is now a happy client of Marcia L. Campbell, CPA.
Not only is Marcia assisting with the son’s taxes, but she’s also provided him with incredibly valuable advice. After his mother passed away, Marcia advised that the son, who was an only child and the sole beneficiary of his parents’ estate, began his own estate planning immediately. With Marcia’s guidance, the son has completed his estate plan to protect his assets and his own child’s financial future.
*Note: If your assets exceed $150,000, you need to begin estate planning immediately. In California, if an estate consists of assets in excess of $150,000, then probate is necessary. If you die without a will or trust, then the Probate Code determines what will happen to your estate.
Related Article: What is the Probate Process if You Die Without A Will or Trust?
How Marcia Campbell Can Help Your Family
When your finances span generations, it’s important to work with an experienced professional who can help you protect your family’s financial legacy. Using the same CPA for multiple generations ensures that your CPA truly knows your family and understands your unique circumstances. In order to develop a long-lasting relationship, your family needs a CPA that every generation can trust.
At Marcia L. Campbell, CPA, we are committed to helping each client thrive by caring for their personal and financial wellbeing with genuine interest, well-established expertise, and a focus on respectful partnership.
Schedule your first meeting with Marcia by either filling out a Contact Form or calling our office at 951-686-3608.