Estate Planning Services in Mandan, ND
Why Estate Planning Matters
Estate planning isn’t only for the wealthy—it’s about making sure your assets are handled smoothly and your loved ones are cared for. At Goodhart & Associates PC, we guide families across Morton and Burleigh counties in planning for the future, whether that means preserving a family farm, passing along savings, or minimizing estate taxes. A well-prepared plan avoids unnecessary complications and keeps more of your legacy in the hands of your beneficiaries.
Our Estate Planning Services
Our team helps you put the financial side of your estate in order:
Estate tax planning
We develop strategies to minimize potential federal estate taxes, helping you preserve more of your wealth for future generations rather than losing it to unnecessary tax obligations.
Inheritance and income tax planning
We guide you through options such as Roth conversions and step-up basis considerations to reduce the tax burden on your heirs, ensuring they receive more of what you intend to leave them.
Trust and estate accounting
From establishing trusts to preparing trust tax returns and assisting executors with estate accounting, we provide the technical support needed to keep everything accurate and compliant.
Coordination with attorneys
We collaborate with your estate attorney so that your financial planning is seamlessly aligned with your legal documents, giving you a complete and consistent plan.
Business succession
Whether passing down a family farm or a closely held business, we help create a structured plan for smooth ownership transition while minimizing the tax impact.
Navigating Estate and Gift Tax Laws
North Dakota does not impose a state estate or inheritance tax, but larger estates may be subject to federal estate tax. We monitor changing exemption thresholds and help clients use strategies like annual gifting to reduce taxable estates. Whether your estate is modest or substantial, our team ensures you understand how current laws affect your planning.
Planning for Retirement Accounts & Care
Many estates include retirement accounts like IRAs or 401(k)s, which require careful planning. We help ensure beneficiary designations are up to date and advise on strategies for minimizing taxes on distributions. We also discuss planning for long-term care and powers of attorney, ensuring your finances are managed if you’re unable to do so yourself.
Local Knowledge, Personal Approach
As a Mandan-based CPA firm, we understand the unique challenges local families face—from keeping a farm in the family to planning around mineral rights or other regional assets. Estate planning can be sensitive, and we take a compassionate, confidential approach to every conversation.
Common Questions About Estate Planning
At what age should I start estate planning?
It’s never too early. Young families need plans for guardianship and assets, while older clients benefit from tax strategies and retirement account planning.
Do I need both a CPA and an attorney?
Yes. Attorneys draft wills and trusts, while we focus on tax and financial strategy. We coordinate with your attorney to ensure every piece fits together.
What is the federal estate tax exemption?
As of 2025, the exemption is about $12.9 million per person, but laws change. We track updates and advise high-net-worth clients on strategies to stay within limits.
Can you help after someone has passed?
Yes. We handle Schedule C and Schedule F returns, ensuring all eligible expenses are included. If needed, we can discuss whether a different business structure would save you money.
Do you help with retirement account beneficiaries?
Absolutely. We review IRA and 401(k) beneficiary designations and explain the tax impact of leaving accounts to heirs, helping you choose the best approach.