Even though for most people tax and estate planning can be overwhelming, it is best to hire an advisor for it. If you are having trouble doing it yourself, the tax advisor can easily ease the process.
Here are the three questions you need to ask your tax advisor before hiring them –
- Ask them how much they charge? – You should not be reluctant to ask them about their charges. You should know in advance if you will be billed by retainer up front or billed hourly.
- Ask them about their company’s background – It is best to look for an advisor with specialization in estate planning. They have the necessary experience and qualifications to help you with estate plan.
- Ask them for recommendations – The advisor should tell you the pros and cons of different plans and also advice you about the changes in tax law when it happens.
According to Nicholas Kahrilas, the tax advisor that you pick should answer any questions that you might have and not keep you in the dark about any development that might affect your estate and tax planning. They should allow you to review all documents related to your estate planning.