Wallace & Associates - Malibu CPA

16000 Ventura Blvd., Suite 804
Encino, CA 91436 US

Picture of a beach in Malibu.
When you’re ready to plan ahead for your family, think of Encino-based Wallace & Associates CPAs for strategic assistance regarding estate planning for Malibu assets. No matter what kinds of assets you need to transfer, we’ll help develop simple, straightforward estate planning strategies to safeguard your wealth.

Estate Planning Tax Strategy

At Wallace & Associates, we have years of experience helping clients form the right estate plans. As part of your team of advisors, we’ll help craft a strategy that honors your wishes while keeping as much money in your estate as possible. Some of the advice we provide for estate planning includes:

  • Wills and estate planning. We’ll help you develop a strategy for handling your will, ensuring that your wishes are carried out after your death, and they’ll help you periodically update your estate planning to deal with changing financial and family circumstances.
  • Trusts. Trusts give you flexibility for managing your assets, and they place boundaries on how your assets can be used. We’ll assist in developinga revocable or irrevocable trust depending on your financial goals.
  • Estate tax information. Based on your financial situation, we’ll clarify how estate taxes, gift taxes, GST exemptions, probate taxes, and other financial factors could affect the transfer of your wealth.
  • Life insurance and retirement benefits. Our CPAs will help you strategically organize your life insurance and retirement benefits portfolio to get the maximum amount of money to the right beneficiaries.
  • International estate planning. If you’ve built a portfolio of assets all over the world, we’ll assist in developing a strategy for you and your heirs in navigating both U.S. and foreign regulations.
  • Business continuity. When you’re a major shareholder in a business, poor estate planning can leave your company in chaos. We’ll help with tax planning that to minimize the disruption to your business.

Real Estate Planning

If you own real estate and rental property in Malibu, Los Angeles, or in Orange County, tax issues regarding estate planning can become complicated. You might have questions about capital gains on investment property. Wallace & Associates will help you minimize your tax obligations when you sell your investment property or transfer it to your heirs. After we calculate capital gains tax on sale of rental property, we’ll also help you understand issues like depreciation recapture and whether you’re eligible for a 1031 tax exchange.

With a real estate 1031 exchange you or your business can delay the payment of capital gains on sale of rental property. Under certain circumstances, if you choose to swap your real estate for another asset in lieu of cash, such as another property or an investment asset, you can avoid paying capital gains on investment property at the time of the exchange. Instead, you can delay paying capital gains on the sale of your rental property in Malibu until you eventually sell the other asset for cash.

Taking Care of Your Wealth

Our CPAs can advise you about protecting your estate and your investment property. Contact Wallace & Associates today.