Estate & Retirement Planning

Your future can be more secure with the help of a Smith Schafer advisor. Because we understand your individual tax situation and changing state and federal estate tax laws, we can help you determine the appropriate immediate and long-term financial strategies. Then we point you to the right resources.

Plan ahead. Gain peace of mind.

We combine individual consulting with a view of generational and business holdings and interests, ensuring that your strategy is comprehensive, risk aware and growth focused. Make sure you have enough saved for retirement, and that the money goes to your chosen heirs and causes. You may be surprised what your estate is worth, so smart planning now could save thousands of dollars later. Our estate and retirement professionals can show you ways to plan for your future while reducing your current and future tax obligations.

Estate & Retirement planning Services:

Estate Planning Services

Planning for the distribution of your financial resources and property can be difficult. Smith Schafer CPAs take a comprehensive approach so you can be assured your wishes will be honored. We can help with:

Define Estate Plan Goals
Review Wills, Trusts & Retirement Plans
Asset Restructure
Estimate Estate Taxes
Identify Tax Savings
Succession Planning
Valuations
Gifting & Charitable Planning

Retirement Planning Services

The sooner you start planning for retirement, the better. Specialized guidance and support from Smith Schafer CPAs can help you develop a plan that delivers a secure retirement and peace of mind during your pre-retirement years. We can help with:

Review Income & Expenses
Recommend Tax Efficient Financial Tools
Determine Tax-deferred Retirement Vehicles
Calculate Withdrawal Percentage
Create Income Plan
Distribution Planning
Budgeting
Risk Management
Wealth Management

We know your industry:

Contact us today to explore a broad range of tax savings opportunities that will help you make well-informed decisions regarding the future of your estate or business.

Estate & Retirement Planning Resources

Important Estate Tax Portability Update Announced

If the federal estate tax exemption is cut approximately in half in 2026, as is currently scheduled, it may create significant issues for Minnesota taxpayers. The matter becomes especially challenging when one considers what may happen if the portability election is not made.

ESOPs & Succession Planning for your Transportation company

This article will provide insight on employee stock ownership plans (ESOP) and how they can be an option for succession planning for transportation companies. An ESOP can provide many benefits, such as tax savings for owners and the business and increasing the culture of ownership by involving employees who have shown service and loyalty.

401k Plan Audit: Fiduciary Responsibility

Many business owners offer a 401k plan to their employees. It is a great way to help employees save for retirement, and it allows the owner to contribute to their account as well. It can also be an attractive benefit for hiring and retaining employees in the current market.

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Why Clients Choose Us

“We have worked with Smith Schafer for over 45 years. They have been great to work with, from wonderful administrative support, tax staff, and CPAs. They have supported us for years with our financials and mergers/acquisitions. Always there to help!”

- Washburn McReavy Funeral Chapels

“Our service is always exceptional and never have to second guess the answers.”

- EnergyPrint, Inc.

“Smith Schafer has provided second to none service and value to my business and personal accounts for over 30 years. Their expertise and knowledge are unmatched by any other accounting firm I have encountered over all these years.”

“The relationship we have built over the years with the staff at Smith Schafer & Associates is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!”

“I have worked with Jason Boynton for several years. He has consistently provided exceptional service and advice always delivered in a timely, pleasant manner.”

“Smith Schafer always makes everything go smoothly. They were recommended to us by our community bank. We have been using their services for many years for our small business and personal taxes. We always feel well taken care of and that we are receiving the best advice, direction, information and tax preparation."

- The Dog Perk Corporation

“Smith Schafer always provides great information for our business. They are thorough with our accounting and financial planning. We have leaned heavily on them with an interpretation of the PPP Loan and COVID-19 planning. They have been instrumental in our success and are always very knowledgeable and quick to respond to any of our questions."

“The relationship we have built over the years with the staff at Smith Schafer is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!"

“We love our CPA team at Smith Schafer. They have helped us navigate many personal and business decisions."

“Smith Schafer is very dedicated to their clients and always has their best interests in mind. They are very knowledgeable and thinking ahead to what the clients may be needing in the future. We would highly recommend Smith Schafer to our family and friends."

"Always fast, great service and questions answered. Love the people I work with at Smith Schafer. We've been there so long, it's like working with family."

- MotoProz, Inc.

"Smith Schafer is always responsive and in the know about what is important for me and my business. The team is responsive and professional with all my interactions. Very customer-focused."

- Custom Communication

"The people at Smith Schafer always take great care of me. They are so knowledgeable and provide great advice and support."

- Sound and Media Solutions, Inc.