Tax Warrior Chronicles

The Value of Trusts

Posted on Thu, Mar 31, 2022

By: Waishan Lee, CPA


Among the safest and most tax-efficient ways to transfer assets is by using a trust. A properly drafted trust document is specifically designed to be both for the benefit of a third-party person or entity and protects the property that was transferred to the trust. But, do you know what exactly a trust is and how you can use a trust to benefit your loved ones, charities and even yourself? Today, we’ll provided a high-level overview of these incredibly useful vehicles.

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Estate Planning During the COVID-19 Pandemic

Posted on Thu, Jun 04, 2020

Although it may seem counterintuitive, the current economic conditions brought on by the COVID-19 global pandemic, including down markets and reduced interest rates, provide estate planning opportunities many individuals may want to consider as part of their overall estate plan.

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GUEST BLOG: 6 Gaps in Personal Insurance-How Not to Fall Victim to Benign Neglect

Posted on Mon, Jun 17, 2019

By: Tamar Silberberg-Shiffman


If you have multiple homes, automobiles and valuable articles, there’s a 90% probability that you’re overpaying on insurance premiums by up to 40%, and/or you have significant holes in your safety net. Today’s guest blogger, Tamar Silberberg-Shiffman, of Concierge Insurance Solutions, will walk you through identifying six (6) likely gaps in your insurance.

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“The Talk” – Part II - Getting Your Parents to Talk About Family Wealth

Posted on Thu, Jul 06, 2017

By: Rachel Kieser, CPA, MT and Jane Scaccetti, CPA, MT


In Part I of this two-part blog series, we discussed what parents should tell their children about their wealth transfer plans.  On the flip side, we will now address how children can get their parents to talk about it.

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“The Talk” – Part I: Talking to Your Kids About Wealth Transfer

Posted on Thu, Jun 29, 2017

By: Rachel Kieser, CPA, MT and Jane Scaccetti, CPA, MT


When you hear “The Talk,” you may not think the talk is about money.  However, many parents in high-net worth families find it difficult to discuss their wealth with their children -  particularly the amount of their wealth, their responsibilities for this wealth, and how it will be distributed once they pass on.  And they certainly don’t know the best age to reveal the “number” to their children, or if they should even tell them the value of their wealth at all. 

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The Walking Dead – How Celebrity Estates Are Taxed

Posted on Fri, Feb 10, 2017

By: Joseph Brunell, CPA


Making a dollar from the grave isn’t easy.  Some celebrities manage to do just that for their beneficiaries, to the tune of millions each year.   In honor of the return of The Walking Dead this weekend, we decided to shed some light on how the likes of Michael Jackson, Elvis Presley and Marilyn Monroe continue to pay Uncle Sam long after they departed from this life. We’ve even included a list of the top 10 deceased earners of 2016 (some will surprise you).

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Keys to Estate Planning for Beneficiaries with Special Needs

Posted on Thu, May 21, 2015

Advice and articles on estate planning abound. But, what if one of your beneficiaries has special needs? In this case, ordinary wills, trusts and insurance may not be sufficient to handle the many complexities that entail.

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Federal Tax Planning for Modest Estates Now Focuses on Income Tax Savings

Posted on Thu, Jan 15, 2015

In the not-too-distant past, there was considerable uncertainty concerning federal estate and gift taxes. This uncertainty was put to rest a few years ago when the top estate and gift tax rate was set at 40% and the exemption was set at $5 million (plus inflation adjustments). Historically, the top federal estate tax rate was 55% and exemption was $1,000,000. Moreover, the highest marginal federal income tax has risen to 43%. This includes the new Net Investment Income Tax passed under the Affordable Care Act. As a result, many modest estates need to be more concerned with income taxes and less concerned with gift and estate taxes.  This post examines planning strategies that should be

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New York Estate Tax – Watch Out for That Cliff!

Posted on Tue, May 27, 2014

With the passage of the New York State Executive Budget legislation in April 2014, Governor Cuomo may get his wish to keep wealthy New Yorkers in New York.  But maybe not . . .

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Larry Ellison’s Lesson About Next Generation Wealth, Taxes and Estate Planning

Posted on Mon, Aug 19, 2013


Larry Ellison’s rise to billionaire status on the wave of his contribution to the tech world, Oracle, has been filled with savvy move after savvy move.  He built his empire by staying one step ahead of his competitors, keeping an eagle eye on his investments and becoming a student of tax law.  But, what he did to pass wealth on to his two children, David, 30, and Megan, 27, managed to avoid the taxman’s grasp altogether.

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