Marcus, Fairall, Bristol + Co., PLLC

A person's estate consists of their investments, automobiles, residences, money, and personal belongings at the time of their death. When a person dies, their estate is divided among his or her heirs. The assets must be divided according to the will's directions. This is known as estate planning, and it is critical for asset protection. Related Articles: What is Financial Planning? Why Estate Planning Is Important Setting up your estate is a tedious task, but it is necessary. Without estate planning, you won't be able to pick who gets your funds, investments, and other belongings. All beneficiaries are protected by an estate plan. If you don't choose who will inherit your values, the court will. It is crucial to the estate plan in order for it to be equitable to all heirs. If the lawsuit goes to court, it might take years and cost a lot of money to resolve. Creating an estate plan protects your heirs from inheritance-related tax issues. With an estate plan in place, it...

Scroll down for more information on the practice of accounting as it pertains to the medical profession. Why is accounting important in healthcare? In order to have a hassle-free healthcare practice, accounting is needed to achieve your financial goals. Accounting is important in the medical industry because every health facility depends on a prompt team of accountants to keep track of budgeting, taxes, expedite collections, and smooth over current accounts to ensure smooth operations. Here are some areas where accountants can help medical professionals: Medicines and other health-related services.  Accountants keep track of the services provided to the patients. They ensure that the cost is correctly calculated and no party is charged incorrectly. Insurance companies. Healthcare accounting is responsible for determining the amount to charge for services whether the amount can be covered or not by the patient insurance. Tax savings from medical equipment. When investing in medical ...