014: Mastering Probate Accounting: Insights from Marcia Campbell's Journey

Marcia Campbell, a seasoned CPA with a heart for protecting seniors' finances, joins Sam on this episode of Probate Notes to share her remarkable journey from Buffalo, New York, to becoming a leading figure in California's probate accounting scene. A scandal in Riverside ignited her passion, and now she’s making waves at Smith Marion, expanding her practice in court accountings. Marcia also shares her experiences as a woman in accounting, providing a candid look into the challenges and triumphs that have shaped her impressive career. 

Estate accounting can be a labyrinth, but Marcia breaks it down with expertise and clarity. By focusing on the critical importance of meticulous financial documentation, she explains the distinction between receipts and capital gains, as well as their impact on an estate's financial standing. Sam and Marcia navigate the complexities of balancing gains and losses, ensuring every transaction aligns perfectly for a smooth probate journey. They untangle the intricacies that often perplex both seasoned professionals and newcomers in the probate field. 

For those facing unique assets like sole proprietorships and Dividend Reinvestment Programs, Marcia's insights are invaluable. She highlights the importance of proper documentation and maintaining carry value for non-liquidated assets, like vehicles, throughout probate. Whether you're a CPA aspiring to break into court accountings or a seasoned probate professional, Marcia’s advice on simplifying processes and her dedication to education and experience are essential takeaways.

Don’t miss this opportunity to make probate less daunting, as we wrap up with practical guidance and a call to keep those probate notes clear and concise.

In this episode, you will hear:

• Marcia Campbell's journey from Buffalo, New York, to a leading probate CPA in California
• The complexities and importance of meticulous estate accounting
• Differentiating receipts from capital gains in estate transactions
• Managing unique probate assets like sole proprietorships and Dividend Reinvestment Programs (DRIP)
• The importance of proper documentation and maintaining carry value for non-liquidated assets
• Empowering women in accounting and overcoming gender-related challenges
• Simplifying probate processes for professionals through expert guidance and practical tips

Resources from this Episode

The 6-Stage Probate Process: How to Navigate California Probate: https://a.co/d/82310Rw 

Follow and Review:

We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.