PM&T Contact info
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Call:
941.365.1172
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Fax:
941-529-0350
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Email:
info@phmmcpa.com
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Visit:
2805 Fruitville Road, Suite 215 Sarasota, Florida 34237
Send request
Estate Planning
Estate planning on your own can be complicated and costly.
And the list is endless... state taxes, bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance, IRA's, 401K's, annuities, burial or cremation costs, and intent regarding death-postponing treatment to name a few.
Not knowing your legal and financial rights often ends up costing you more in the end.
Estate Planning Options
Thoughts of estate planning often bring more questions than answers: Could an heir be too young to inherit? Should the inheritance be given at a certain age? Is the intended beneficiary in a shaky marriage with divorce as a possibility? Are there children from a previous marriage? Should inheritance be protected from potential creditors of the heir? Are there taxes that can be avoided? Are you able to avoid the probate court rules, delays, and costs?
Planning what happens to your estate when you're gone can seem frustrating and intimidating without qualified help.
You may feel that you're too young to care about estate planning. Or, perhaps the reminder of death makes you uncomfortable. You might be tempted to put the whole thing off, assuming that it will just take care of itself. In all cases, estate planning ends up saving your family lots of time, heartache and money.
We can help.
Every estate planning situation is different. In order to help you, we want to know you, your unique situation, and the nature of your relationships. We offer discussion, recommendations and useful research tools to make your planning simple, efficient, and worry-free.
We are available throughout the process for further discussion regarding questions, change of circumstances, and alternatives. At every step, we'll be there with you.
We Help You:
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Estate Planning
Clearly define your estate planning goals.
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Estate Planning Organization
Organize and create your estate planning team (experts on law, finance, and taxes) if you need one.
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Estate Planning Options
Evaluate and recommend estate planning options.
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Estate Planning Management
Prepare, organize and review your estate planning documents including current wills, trusts, health care and power of attorney.
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Problem Resolution
Decrease the problems and expenses associated with probate.
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Death Taxes
Lessen taxes at time of death.
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Estate Management
Arrange for management of your estate in the event you are incapacitated.
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Post-Death Management
Draft a working plan for conserving and effectively managing your estate after death.
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Asset Transfers
Transfer the assets of your estate to heirs the way you want.
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Liquidation Options
Organize fair and adequate liquidation of estate to cover taxes and other expenses.
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Plan Amendments
Amend your plan as needed.
The key to successful retirement planning is an understanding your current financial situation and projecting future needs and developing a plan to make sure it happens. If you've already started saving for retirement, how do you know you're saving enough to live the comfortable lifestyle you deserve? Are your income expectations realistic? Are you sure you have your money in the right retirement plan for you?
Our Retirement Planning Services
Tax rules regarding retirement plans are complex. Each benefit plan has specific requirements as outlined by the IRS and not every plan can be used by everyone. For example, contributions limits vary by the type of plan, your income, and your age. Some plans may require withdrawals at a certain age, while others have no age limit. Some withdrawals are taxed at retirement, whereas others are tax free. You'll need to understand the tax implications of your retirement planning choices.
That's why it's best to use a tax professional like us. When you use our retirement planning services, you benefit from our in-depth knowledge and years of retirement planning experience.
Here's what we do for you:
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Current Financial Situation Evaluation
Evaluate your current financial situation, including assets and liabilities to achieve an overall value for your estate
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401K, IRA, Roth IRA and other Withdrawal Options
Calculate the best way to withdraw funds from your 401K, IRA, Roth IRA, and other retirement plans, for example lump sum or installments over a certain period of years
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Budgeting
Create a budget that meets your retirement goals
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Social Security Account Review
Review your individual Social Security account to determine when to begin taking your social security benefits
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Retirement Planning Options
Figure out which retirement plan works best for you and your family, how much you need to contribute now to make sure you have enough money to live comfortably during your golden years
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Tax Credit Options
Determine whether you qualify for a tax credit for contributing to an IRA
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Retirement planning
Develop a comprehensive retirement plan, keeping in mind that it is likely to change over the years as your life changes
You also get help with
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Living Wills and Trusts.
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Lifetime Family Wealth Transfers.
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Family partnerships and other business relationships.
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Leaving money to charities.
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Preparation for estate and trust tax problems.
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Let us assist you
The hassles and red tape associated with estate planning can be daunting, but you don't need to do it alone. Our team is waiting to assist you through every step of the process.
The team at PM&T is waiting to assist you through every step of the process
Sarasota's trusted full-service financial Planning & accounting firm since 1992
Offering comprehensive personal financial planning, retirement planning, estate planning, and elder care services alongside business expertise in small business accounting, payroll, CFO services, audits, forensic accounting, cash flow management, business valuation, strategic planning, and litigation support
