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Estate-and-trust-planning-road-ahead.jpgThis investment of time and effort pays big dividends. Your advocacy builds confidence in your expertise, solidifies client relationships, and expands your base of services and ongoing revenue beyond tax preparation.

California is often ahead of the curve in cultural and economic changes. Now, nearly all California practices are experiencing some financial impacts of globalization and technology. Increasing volumes of foreign workers and capital now flow in and out of California. This presents advisors with a rising tide of foreign-owned domestic and offshore funds, real estate investments, beneficiaries and multinational taxation issues. California\’92s leading-edge techo-economy also challenges valuations and projections with digital client assets as diverse as databases of proprietary business information and online content rights.

Estate plans and trust funds are no longer carved in granite and rest in peace. Every year now brings rapid changes in taxation and regulation impacting succession planning, health care directives, transfers of assets, gifts, trusts and other key elements of estate planning. Top advisors in these areas update and hone their knowledge and skills, including understanding the implications of current and impending changes in taxation and legislation.

Whether your practice is focused on local businesses and families or high net worth clients, staying current with estate planning and trust changes is critical. You can learn more about these changes at the CalCPA Estate and Trust Planning Conference next week in San Francisco or via webcast. With company pensions and 401K deposits sinking slowly in the West, every CPA practice should be redoubling efforts to help their business and family clients utilize their estate and trust options for minimizing taxation and protecting their assets. And as estate and trust planning advisors, CPAs must be fully prepared to plan, execute and effectively manage these critical services.

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