Month: November 2021

It’s rejuvenation time!

Get ready for gatherings and the holidays!

face rejuvenation

Now that masks are coming off, and family and other social functions are beginning to return, many patients are realizing it is time to freshen their appearance.

We invite you to schedule a consultation to discuss the best options for your personal goals.  Dr. Zeineh seeks to provide advanced cosmetic and reconstructive techniques combined with compassionate, personalized care for each patient.

Dr. Zeineh personally performs these procedures on her patients to achieve and maintain a youthful, refreshed, and natural appearance.  Some popular options that patients are considering:

Facial rejuvenation

  • Customized detailed analysis of facial aging and anatomy
  • Upper and lower eyelid surgery
  • Browlift (endoscopic,open)
  • Temporal lift
  • Facelift
  • Neck lift and neck contouring
  • Fat grafting
  • Earlobe repair/otoplasty

Non-surgical and minimally invasive rejuvenation

  • Facial injections (Botox® , and dermal fillers including the exclusive designer filler RHA Collection® )
  • Contouring under the chin and neck region
  • Threadlifts to reposition brows, face, and neck and to create collagen stimulation
  • Hand rejuvenation

thread lifts

Below is additional information on two procedures that have been very popular with patients  – threadlifts and designer fillers:

Thread Lifts for Facial Rejuvenation – Advancements & Recent Product Launch

Thread lifts offer a non-surgical option for facial rejuvenation.

The recent launch of Infinity Plus molded threads, made by NovaThreads®, offers increased precision and accuracy for facial aesthetics.

  • How do they work? The threads are made of absorbable material.  They are placed underneath the skin to reposition overlying tissue to a more favorable location, while maintaining a natural appearance. As the threads absorb over time, new collagen is formed which will tighten your skin.
  • Where can they be used? The threads can be placed for lifting the brows, cheek, jowl line, and neck. Also, they can be used to soften fine lines, stimulate collagen, and tighten skin on forehead, around the eyes, lips, jowls, and neck.
  • More info: Results last approximately 8-12 months. No incisions are required. The procedure is performed in our office. No anesthesia is required.

designer fillers

The Designer Filler – Now Available

We’re excited to be among the first practices in the U.S. to offer the RHA® Collection, the latest innovation in hyaluronic acid fillers.

The RHA® Collection is intentionally designed for facial dynamics. It’s made to mimic the natural hyaluronic acid that’s found in your skin and adapt to the dynamic demands of your face. Finally, the excellence of Swiss science is now available at our select practice.

Ready to proceed? 

I am safely seeing patients in our office, following CDC guidelines. I am also available for telehealth phone consultations (657-722-1400) and photos and communication via email at DrZ@DrZeinehPlasticSurgery.com.

Please let me know of any questions or concerns that you may have.

Thank you so much.

Sincerely,

Linda L. Zeineh, M.D., FACS

 

 

About Linda L. Zeineh, M.D., FACS

Dr. Zeineh is an active member of the American Society of Plastic Surgeons and the American Society for Aesthetic Plastic Surgery. She combines over 15 years of experience with cosmetic and reconstructive surgery in private practice with new technology and techniques in the care of her patients. Her first priority is the satisfaction and well-being of her patients, providing compassionate and personalized care.

A complete range of non-surgical and minimally invasive rejuvenation procedures are personally performed by Dr. Zeineh on her patients to achieve and maintain a youthful, refreshed, and natural appearance, including facial injections, skin tightening and facial/body contouring. Surgical procedures that Dr. Zeineh performs include: facial rejuvenation, body contouring, reconstructive and cosmetic breast surgery, and reconstructive surgery.

 

It’s rejuvenation time!

Thank you so much for attending my presentation on “Facial Rejuvenation –  Surgical and Non-Surgical Options” for the “Dynamic Women” virtual event provided by Providence St. Joseph Hospital.  I really appreciate your attendance at the webinar.

As a follow-up, I thought you might enjoy reading our November newsletter below, which discusses rejuvenation. Please let me know if you have any questions!

Linda L. Zeineh, M.D., FACS

Get ready for gatherings and the holidays!

face rejuvenation

Now that masks are coming off, and family and other social functions are beginning to return, many patients are realizing it is time to freshen their appearance.

We invite you to schedule a consultation to discuss the best options for your personal goals.  Dr. Zeineh seeks to provide advanced cosmetic and reconstructive techniques combined with compassionate, personalized care for each patient.

Dr. Zeineh personally performs these procedures on her patients to achieve and maintain a youthful, refreshed, and natural appearance.  Some popular options that patients are considering:

Facial rejuvenation

  • Customized detailed analysis of facial aging and anatomy
  • Upper and lower eyelid surgery
  • Browlift (endoscopic, open)
  • Temporal lift
  • Facelift
  • Neck lift and neck contouring
  • Fat grafting
  • Earlobe repair/otoplasty

Non-surgical and minimally invasive rejuvenation

  • Facial injections (Botox® , and dermal fillers including the exclusive designer filler RHA Collection® )
  • Contouring under the chin and neck region
  • Threadlifts to reposition brows, face, and neck and to create collagen stimulation
  • Hand rejuvenation

thread lifts

Below is additional information on two procedures that have been very popular with patients  – threadlifts and designer fillers:

Thread Lifts for Facial Rejuvenation – Advancements & Recent Product Launch

Thread lifts offer a non-surgical option for facial rejuvenation.

The recent launch of Infinity Plus molded threads, made by NovaThreads®, offers increased precision and accuracy for facial aesthetics.

  • How do they work? The threads are made of absorbable material.  They are placed underneath the skin to reposition overlying tissue to a more favorable location, while maintaining a natural appearance. As the threads absorb over time, new collagen is formed which will tighten your skin.
  • Where can they be used? The threads can be placed for lifting the brows, cheek, jowl line, and neck. Also, they can be used to soften fine lines, stimulate collagen, and tighten skin on forehead, around the eyes, lips, jowls, and neck.
  • More info: Results last approximately 8-12 months. No incisions are required. The procedure is performed in our office. No anesthesia is required.

designer fillers

The Designer Filler – Now Available

We’re excited to be among the first practices in the U.S. to offer the RHA® Collection, the latest innovation in hyaluronic acid fillers.

The RHA® Collection is intentionally designed for facial dynamics. It’s made to mimic the natural hyaluronic acid that’s found in your skin and adapt to the dynamic demands of your face. Finally, the excellence of Swiss science is now available at our select practice.

Ready to proceed? 

I am safely seeing patients in our office, following CDC guidelines. I am also available for telehealth phone consultations (657-722-1400) and photos and communication via email at DrZ@DrZeinehPlasticSurgery.com.

Please let me know of any questions or concerns that you may have.

Thank you so much.

Sincerely,

Linda L. Zeineh, M.D., FACS

 

 

About Linda L. Zeineh, M.D., FACS

Dr. Zeineh is an active member of the American Society of Plastic Surgeons and the American Society for Aesthetic Plastic Surgery. She combines over 15 years of experience with cosmetic and reconstructive surgery in private practice with new technology and techniques in the care of her patients. Her first priority is the satisfaction and well-being of her patients, providing compassionate and personalized care.

A complete range of non-surgical and minimally invasive rejuvenation procedures are personally performed by Dr. Zeineh on her patients to achieve and maintain a youthful, refreshed, and natural appearance, including facial injections, skin tightening and facial/body contouring. Surgical procedures that Dr. Zeineh performs include: facial rejuvenation, body contouring, reconstructive and cosmetic breast surgery, and reconstructive surgery.

 

 

It’s rejuvenation time!

Get ready for gatherings and the holidays!

face rejuvenation

Now that masks are coming off, and family and other social functions are beginning to return, many patients are realizing it is time to freshen their appearance.

We invite your patients to schedule a consultation to discuss the best options for their personal goals.  Dr. Zeineh seeks to provide advanced cosmetic and reconstructive techniques combined with compassionate, personalized care for each patient.

Dr. Zeineh personally performs these procedures on her patients to achieve and maintain a youthful, refreshed, and natural appearance.  Some popular options that patients are considering:

Facial rejuvenation

  • Customized detailed analysis of facial aging and anatomy
  • Upper and lower eyelid surgery
  • Browlift (endoscopic,open)
  • Temporal lift
  • Facelift
  • Neck lift and neck contouring
  • Fat grafting
  • Earlobe repair/otoplasty

Non-surgical and minimally invasive rejuvenation

  • Facial injections (Botox® , and dermal fillers including the exclusive designer filler RHA Collection® )
  • Contouring under the chin and neck region
  • Threadlifts to reposition brows, face, and neck and to create collagen stimulation
  • Hand rejuvenation

thread lifts

Below is additional information on two procedures that have been very popular with patients  – threadlifts and designer fillers:

Thread Lifts for Facial Rejuvenation – Advancements & Recent Product Launch

Thread lifts offer a non-surgical option for facial rejuvenation.

The recent launch of Infinity Plus molded threads, made by NovaThreads®, offers increased precision and accuracy for facial aesthetics.

  • How do they work? The threads are made of absorbable material.  They are placed underneath the skin to reposition overlying tissue to a more favorable location, while maintaining a natural appearance. As the threads absorb over time, new collagen is formed which will tighten your skin.
  • Where can they be used? The threads can be placed for lifting the brows, cheek, jowl line, and neck. Also, they can be used to soften fine lines, stimulate collagen, and tighten skin on forehead, around the eyes, lips, jowls, and neck.
  • More info: Results last approximately 8-12 months. No incisions are required. The procedure is performed in our office. No anesthesia is required.

designer fillers

The Designer Filler – Now Available

We’re excited to be among the first practices in the U.S. to offer the RHA® Collection, the latest innovation in hyaluronic acid fillers.

The RHA® Collection is intentionally designed for facial dynamics. It’s made to mimic the natural hyaluronic acid that’s found in your skin and adapt to the dynamic demands of your face. Finally, the excellence of Swiss science is now available at our select practice.

Ready to proceed? 

I am safely seeing patients in our office, following CDC guidelines. I am also available for telehealth phone consultations (657-722-1400) and photos and communication via email at DrZ@DrZeinehPlasticSurgery.com.

Please let me know of any questions or concerns that you may have.

Thank you so much.

Sincerely,

Linda L. Zeineh, M.D., FACS

 

 

About Linda L. Zeineh, M.D., FACS

Dr. Zeineh is an active member of the American Society of Plastic Surgeons and the American Society for Aesthetic Plastic Surgery. She combines over 15 years of experience with cosmetic and reconstructive surgery in private practice with new technology and techniques in the care of her patients. Her first priority is the satisfaction and well-being of her patients, providing compassionate and personalized care.

A complete range of non-surgical and minimally invasive rejuvenation procedures are personally performed by Dr. Zeineh on her patients to achieve and maintain a youthful, refreshed, and natural appearance, including facial injections, skin tightening and facial/body contouring. Surgical procedures that Dr. Zeineh performs include: facial rejuvenation, body contouring, reconstructive and cosmetic breast surgery, and reconstructive surgery.

 

Budgeting for Maximum Profit – REFS

BUDGETING FOR
MAXIMUM PROFIT!

BUDGETING

How MyCFO overhauls and revitalizes the budgeting process for your clients!

Successful businesses create annual budgets and regularly monitor performance.  Here are a few examples of how MyCFO assists clients with budgeting – and how we can help your clients, too!

Recent engagement: Essential planning

A budget is a plan to control finances, ensure funding of current and future commitments, and allow management to make confident financial decisions. Every year, many companies ask MyCFO to help prepare their budgets.  The basic needs for these clients usually include most or all of the following:

  • Communication with all levels of management
  • Allocate resources to growth and development
  • Manage cash flow more effectively
  • Monitor performance
  • Effective expense management
  • Maximize return-on-investment

On a fundamental level, MyCFO typically does the following with each client: review prior performance, set goals, calculate income and expenses, and establish goals for profitability and key financial benchmarks.

We typically provide sophisticated assistance with cash flow management advice, and systems to generate key financial data for management to regularly monitor.

In the process, we may also assist in setting up bookkeeping systems, accounting department training, and bank loan negotiations. We then set up systems to monitor the budget vs. actual results during the year, and consult with the client in making adjustments along the way.

 Recent engagement: High growth requires cash!

If your client’s business is encountering any of the following it will need additional budgeting assistance from MyCFO:

  • Under-performance in overall profitability
  • Facilities expansion
  • Adding a new division
  • Changes in product lines
  • Revenue “gaps,” requiring a revised line of credit

In this recent engagement, our client was adding a new division (with additional salespeople and related costs), thereby anticipating a 30% sales increase.  Management’s rough budgeting showed a rosy picture with a substantial increase in profits.  However, they asked MyCFO to analyze and verify the projections, so that the company could be assured of its predicted success.

After MyCFO’s analysis, the actual picture was much different.  While their projected expenses were accurate, there were actually going to be major issues in the company’s ability to meet payroll and cover ongoing operating costs.  In fact, our projections showed that during the initial period of high growth, it would run out of money within 90 days, maxing-out the line of credit!

This situation was due to cash flow timing issues.   Instead of having extra cash in the bank and paying off their line of credit, which was what their initial budget showed, the company would instead need to double their line of credit.

Of course, management was shocked – but happy that the situation could be remedied.  MyCFO worked with the company to prepare new projections (balance sheet,  income statement and cash flow), then helped negotiate with the bank to successfully increase the credit line.

The key takeaway from this example is that 9 times out of 10, growth requires cash!  A company can still increase its profitability, it is simply that rapid growth generally needs additional outside financing.

Recent engagement: Maximize profitability

Many companies have a standard chart of accounts in alphabetical order (e.g., accounts receivable, building, equipment, etc.).  In this engagement, the privately-held, medium size business had an overall budget covering several different departments.  Ownership felt that the company was under-performing in terms of profitability, and MyCFO’s analysis of industry comparable financial data confirmed this belief.   The goal was to at least raise the company to the same level of performance as other companies in the industry, which would result in a roughly 20% increase in net profit before taxes.

MyCFO’s key solution was to establish per-department budgets, folding into an overall company-wide budget.  This allowed every department to be responsible for its own budget, allowing each to manage their tailored levels of income and expenses.  This process also provided opportunities for all levels of employees to become engaged and provide input on strengths/weaknesses, cost-cutting and performance improvement.  At monthly company-wide meetings, each department could be reviewed for performance and everyone understood the priorities of the business.  A healthy competitive environment developed and everyone benefited as the company became more profitable, through a performance bonus system that MyCFO helped design.

The company met its profitability goals and is working on even greater success in the second year of the new system.

The clock is ticking …

2022 is fast approaching – are your clients ready to make the most money possible?  The professionals at MyCFO can offer invaluable expertise in the budgeting process.   Have your client contact us today for a free initial consultation!

Budgeting for Maximum Profit – PROSPECTS

BUDGETING FOR
MAXIMUM PROFIT!

BUDGETING

How MyCFO overhauls and revitalizes your budgeting process!

Successful businesses create annual budgets and regularly monitor performance.  Here are a few examples of how MyCFO assists clients with budgeting – and how we can help you!

Recent engagement: Essential planning

A budget is a plan to control finances, ensure funding of current and future commitments, and allow management to make confident financial decisions. Every year, many companies ask MyCFO to help prepare their budgets.  The basic needs for these clients usually include most or all of the following:

  • Communication with all levels of management
  • Allocate resources to growth and development
  • Manage cash flow more effectively
  • Monitor performance
  • Effective expense management
  • Maximize return-on-investment

On a fundamental level, MyCFO typically does the following with each client: review prior performance, set goals, calculate income and expenses, and establish goals for profitability and key financial benchmarks.

We typically provide sophisticated assistance with cash flow management advice, and systems to generate key financial data for management to regularly monitor.

In the process, we may also assist in setting up bookkeeping systems, accounting department training, and bank loan negotiations. We then set up systems to monitor the budget vs. actual results during the year, and consult with the client in making adjustments along the way.

 Recent engagement: High growth requires cash!

If your business is encountering any of the following you will need additional budgeting assistance from MyCFO:

  • Under-performance in overall profitability
  • Facilities expansion
  • Adding a new division
  • Changes in product lines
  • Revenue “gaps,” requiring a revised line of credit

In this recent engagement, our client was adding a new division (with additional salespeople and related costs), thereby anticipating a 30% sales increase.  Management’s rough budgeting showed a rosy picture with a substantial increase in profits.  However, they asked MyCFO to analyze and verify the projections, so that the company could be assured of its predicted success.

After MyCFO’s analysis, the actual picture was much different.  While their projected expenses were accurate, there were actually going to be major issues in the company’s ability to meet payroll and cover ongoing operating costs.  In fact, our projections showed that during the initial period of high growth, it would run out of money within 90 days, maxing-out the line of credit!

This situation was due to cash flow timing issues.   Instead of having extra cash in the bank and paying off their line of credit, which was what their initial budget showed, the company would instead need to double their line of credit.

Of course, management was shocked – but happy that the situation could be remedied.  MyCFO worked with the company to prepare new projections (balance sheet,  income statement and cash flow), then helped negotiate with the bank to successfully increase the credit line.

The key takeaway from this example is that 9 times out of 10, growth requires cash!  Your company can still increase its profitability, it is simply that rapid growth generally needs additional outside financing.

Recent engagement: Maximize profitability

Many companies have a standard chart of accounts in alphabetical order (e.g., accounts receivable, building, equipment, etc.).  In this engagement, the privately-held, medium size business had an overall budget covering several different departments.  Ownership felt that the company was under-performing in terms of profitability, and MyCFO’s analysis of industry comparable financial data confirmed this belief.   The goal was to at least raise the company to the same level of performance as other companies in the industry, which would result in a roughly 20% increase in net profit before taxes.

MyCFO’s key solution was to establish per-department budgets, folding into an overall company-wide budget.  This allowed every department to be responsible for its own budget, allowing each to manage their tailored levels of income and expenses.  This process also provided opportunities for all levels of employees to become engaged and provide input on strengths/weaknesses, cost-cutting and performance improvement.  At monthly company-wide meetings, each department could be reviewed for performance and everyone understood the priorities of the business.  A healthy competitive environment developed and everyone benefited as the company became more profitable, through a performance bonus system that MyCFO helped design.

The company met its profitability goals and is working on even greater success in the second year of the new system.

The clock is ticking …

2022 is fast approaching – are your ready to make the most money possible?  The professionals at MyCFO can offer invaluable expertise in the budgeting process.   Contact us today for a free initial consultation!

Budgeting for Maximum Profit – CLIENTS

BUDGETING FOR
MAXIMUM PROFIT!

BUDGETING

How MyCFO overhauls and revitalizes your budgeting process!

Successful businesses create annual budgets and regularly monitor performance.  Here are a few examples of how MyCFO assists clients with budgeting – and how we can help you!

Recent engagement: Essential planning

A budget is a plan to control finances, ensure funding of current and future commitments, and allow management to make confident financial decisions. Every year, many companies ask MyCFO to help prepare their budgets.  The basic needs for these clients usually include most or all of the following:

  • Communication with all levels of management
  • Allocate resources to growth and development
  • Manage cash flow more effectively
  • Monitor performance
  • Effective expense management
  • Maximize return-on-investment

On a fundamental level, MyCFO typically does the following with each client: review prior performance, set goals, calculate income and expenses, and establish goals for profitability and key financial benchmarks.

We typically provide sophisticated assistance with cash flow management advice, and systems to generate key financial data for management to regularly monitor.

In the process, we may also assist in setting up bookkeeping systems, accounting department training, and bank loan negotiations. We then set up systems to monitor the budget vs. actual results during the year, and consult with the client in making adjustments along the way.

 Recent engagement: High growth requires cash!

If your business is encountering any of the following you will need additional budgeting assistance from MyCFO:

  • Under-performance in overall profitability
  • Facilities expansion
  • Adding a new division
  • Changes in product lines
  • Revenue “gaps,” requiring a revised line of credit

In this recent engagement, our client was adding a new division (with additional salespeople and related costs), thereby anticipating a 30% sales increase.  Management’s rough budgeting showed a rosy picture with a substantial increase in profits.  However, they asked MyCFO to analyze and verify the projections, so that the company could be assured of its predicted success.

After MyCFO’s analysis, the actual picture was much different.  While their projected expenses were accurate, there were actually going to be major issues in the company’s ability to meet payroll and cover ongoing operating costs.  In fact, our projections showed that during the initial period of high growth, it would run out of money within 90 days, maxing-out the line of credit!

This situation was due to cash flow timing issues.   Instead of having extra cash in the bank and paying off their line of credit, which was what their initial budget showed, the company would instead need to double their line of credit.

Of course, management was shocked – but happy that the situation could be remedied.  MyCFO worked with the company to prepare new projections (balance sheet,  income statement and cash flow), then helped negotiate with the bank to successfully increase the credit line.

The key takeaway from this example is that 9 times out of 10, growth requires cash!  Your company can still increase its profitability, it is simply that rapid growth generally needs additional outside financing.

Recent engagement: Maximize profitability

Many companies have a standard chart of accounts in alphabetical order (e.g., accounts receivable, building, equipment, etc.).  In this engagement, the privately-held, medium size business had an overall budget covering several different departments.  Ownership felt that the company was under-performing in terms of profitability, and MyCFO’s analysis of industry comparable financial data confirmed this belief.   The goal was to at least raise the company to the same level of performance as other companies in the industry, which would result in a roughly 20% increase in net profit before taxes.

MyCFO’s key solution was to establish per-department budgets, folding into an overall company-wide budget.  This allowed every department to be responsible for its own budget, allowing each to manage their tailored levels of income and expenses.  This process also provided opportunities for all levels of employees to become engaged and provide input on strengths/weaknesses, cost-cutting and performance improvement.  At monthly company-wide meetings, each department could be reviewed for performance and everyone understood the priorities of the business.  A healthy competitive environment developed and everyone benefited as the company became more profitable, through a performance bonus system that MyCFO helped design.

The company met its profitability goals and is working on even greater success in the second year of the new system.

The clock is ticking …

2022 is fast approaching – are your ready to make the most money possible?  The professionals at MyCFO can offer invaluable expertise in the budgeting process.   Contact us today for a free initial consultation!

Fraud Investigations: Key Steps and Mistakes to Avoid

 

Ryan and Austin

by Ryan Nguyen, CPA, CFE and Austin Ray, CPA, CFE

We live in a world where fraud and embezzlement are rather common; in fact, the Association of Certified Fraud Examiners reports that private companies and small businesses experience fraud more frequently than large corporations, with a frequency rate of 28%!

Knowing what steps to take to address suspected fraud is critical, as these set the course for criminal or civil actions, form a basis for termination proceedings, and provide evidence for insurance claims.

Hire a Team of Fraud Experts

Before launching an internal investigation, hire outside professionals to help guide your efforts. An attorney will help ensure that the proper legal steps are taken to protect your company and establish a case for potential prosecution against the perpetrator.  A forensic CPA who is trained as a fraud examination specialist can investigate the fraud scheme, calculate damages, then act as an expert in legal proceedings.

Investigate and Preserve Evidence

At the outset, it is critical to obtain and preserve evidence. Avoid removal of key records by suspects through creating backups of all financial data and correspondence, ensuring that this information remains unaltered. As evidence is collected, always be sure to document the origins of the information and maintain the chain of custody. Again, work carefully with your fraud experts to guide this process.

Identify Suspects and Determine Course of Action

Remember, no one should be above suspicion. Consider collusion between multiple parties and minimize any disclosure of suspicions of fraud. Finally, create a hypothesis of what occurred based on the known facts. Your fraud experts will help you test this hypothesis by thoroughly analyzing all records, conducting interviews, and evaluating the next steps.

{Editor’s note: Ryan Nguyen, CPA, CFE, Partner – Forensics and Audit, and Austin Ray, CPA, CFE, Supervisor – Forensics and Audit, recently published this article in the Orange County Business Journal.}

The Essential End-of-Year Estate Plan Checklist

Year-End Estate Plan Checklist

The Essential
End-of-Year
Estate Plan Checklist

Here are two common questions we hear frequently from new clients.  See if these apply to you!

Q. I haven’t touched my estate plan in 10 years. What are some of the reasons that I’d need to revisit my plan, and how often should I meet with an attorney?

A. Many people review their estate plan on a regular basis, just to keep up with a busy life, and often at the same time as a review of their financial plan. This is typically done on an annual basis. At a minimum, we’d suggest reviewing your estate plan at least every three to five years, in order to ensure that any major changes in your personal and financial situation are reflected in your will.

Keep in mind that a review should be considered more frequently if various changes occur, such as:

  • Significant increase/decrease in net worth, including inheritances
  • Major changes in asset holdings, such as personal residence, vacation property, or rental properties
  • Changes in your final wishes
  • Asset protection concerns
  • Retirement of yourself or spouse
  • Change in state of residence
  • Changes in federal or state taxation laws
  • The birth or adoption of a child or grandchild
  • Marriage or divorce, for yourself and possibly beneficiaries
  • Death of a spouse or another family member
  • Death or change in circumstances of those named as executor under a will, guardians, trustees under a trust, or agents under powers of attorney

Q. My CPA suggests reviewing tax planning at year-end. Is there such a thing as “end-of-year estate planning?”

A. Yes! Actually, your tax planning strategies may bring up estate planning issues as well. Regardless, here are some items to consider:

End-of-Year Estate Planning Checklist

  • Consider all of the items from the above list, as to recent changes.
  • Consider revisions made necessary by recently enacted tax laws. Also, prepare for new tax laws in the coming year.
  • Gather tax documents for tax return for current year.
  • Review insurance policies.
  • Review and inventory your list of assets for tax and insurance purposes.
  • Review your beneficiary designations for 401K accounts, life insurance policies, etc., and make sure they are current and have the correct contact information.
  • Review the succession plan for your family-owned business.
  • Provide gifts as desired up to the annual gift tax exclusion.
  • Confirm that you are taking the required minimum distribution amounts from retirement accounts and other taxable income sources.

Expert Legal Guidance

At Mortensen & Reinheimer, PC we recognize that some of the most important decisions involve protecting what you have earned, and planning to provide for your loved ones.  If you need legal expertise in addressing your specific estate planning needs, please contact Mortensen & Reinheimer, PC at (714) 384-6053 to make an appointment, or use our online contact form. Our website is http://www.ocestateplanning.net.

Tamsen-Reinheimer_150x100

About the author:
Tamsen R. Reinheimer, Attorney, is a Certified Specialist in Estate Planning, Trust & Probate Law (The State Bar of California Board of Legal Specialization). She has significant experience in all aspects of estate planning, trust administration, and probate. Contact Tamsen at tamsen@ocestateplanning.net.