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Areas of Expertise
Richard Umanoff, CPA, MBA
PRINCIPAL — ESTATE & GIFT, TRUST AND PROBATE
Richard Umanoff is an Estate & Gift, Trust and Probate Principal at KROST. Richard's career spans over 45 years, with a concentration in taxation. His primary emphasis is estate and trust tax compliance, planning, estate administration, and probate court accounting. Richard currently serves in the role of trustee for numerous clients.
Richard can assist with the transition of family wealth and estate succession. He has experience working with family-owned and privately held companies, as well as high-net-worth individuals. His primary goal is to assist individuals and their attorneys to effectively transfer wealth while minimizing unnecessary estate, gift, and generation-skipping taxes. In addition, he can coordinate all of your Estate & Gift, Trust and Probate Planning needs to ensure a smooth transition while minimizing emotional, tax, and administrative burdens.
Richard earned his Bachelor of Science and Master of Business Administration from the State University of New York at Buffalo. His graduate courses included the successful completion of The Professional Accounting Option.
Prior to joining KROST in 2020, Richard was Managing Partner of Gaynor & Umanoff, LLP in their Beverly Hills and West Los Angeles offices.
Richard lives in Redondo Beach with his wife, Susan.
- KROST, Principal — Estate & Gift, Trust and Probate (Present)
- Gaynor & Umanoff, LLP, Managing Partner (1979 — 2018)
- Master of Business Administration, Professional Accounting, SUNY at Buffalo
- Bachelor of Science, SUNY at Buffalo
- Member of American Institute of Certified Public Accountants (AICPA) (1983 — Present)
- Member of California Society of Certified Public Accountants (CalCPA) (1983 — Present)
- Member of LA Estate Planning Committee (2012 — Present)
- Conference Planning Committee, UCLA Annual Tax Controversy Conference
Richard's Thought Leadership
Take Advantage of Lifetime Exclusion While You Can
When a person passes away, the deceased’s assets are subject to federal estate tax if the total
Estate & Trust Planning Strategies: Power of Appointment and Disclaimer Trust Explained
In one of our previous articles, we covered the topic of disclaimers as an excellent post-mortem tax
The Impact of Power of Attorney and Understanding the Differences
We often get questions about what to do when a person wants to give up their authority
The Trust “Oil Change” – Reviewing and Updating Your Trust
As one annually services their automobile for an oil change and routine maintenance, it is also prudent
Benefits of Disclaimers in Post-Mortem Estate Planning
When considering the creation of a will or a trust, one usually thinks about pre-death planning. However,
What is a SLAT?
A Spousal Lifetime Access Trust (SLAT) is a trust established between spouses. Essentially, one spouse gives the
Common Ways to Hold Title in California
We often get questions from clients on how to hold title to property they are about to
In our last article in this series, we covered the different types of trusts that can be
Get Organized with KROST’s Will & Trust Asset Legacy Planner
Please note the following updates for 2022 Estate and Gift Exclusions: Estates of decedents who passed away
Types of Trusts
In the last article in our series, we covered the benefits a trust offers for creators and