Tax Warrior Chronicles

Why Beneficiary Designations Are Critically Important

Posted on Wed, Jul 28, 2021

by: Cecilia Fernandes and Robert N. Polans, CPA, MT, PFS, ChFC


The COVID-19 pandemic unexpectedly took the lives of many loved ones. It made many of us stop and reflect deeply about what is most important: health and family! With that in mind, there is no better time than now to check your beneficiary designations related to your retirement plan accounts, traditional IRAs and Roth IRAs, tax-deferred annuities, and life insurance policies, to ensure they are all up to date and in line with your overall estate distribution goals.

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Protecting Your Heirs from Taxes and Creditors After the SECURE Act

Posted on Fri, Jan 29, 2021

By: Elizabeth M. K. Witko, MAcc, MSF, and Robert N. Polans, CPA, MT, PFS


The tax impact of the Setting Every Community Up for Retirement Enhancement (SECURE) Act’s 10-year limited stretch can be a “keep you up at night” concern for individuals who have amassed substantial qualified retirement accounts. Often, these individuals have a substantial portion of their investment portfolios accumulating and growing in tax-deferred retirement accounts, and as a result of the SECURE Act, could be passing down a massive income tax liability to their heirs.

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Lessons from My Family Business

Posted on Tue, Feb 18, 2020

By: Elizabeth M.K. Witko, MAcc, MSF


Occasionally, we like to share some of our personal stories and experiences and how they’ve helped shape how we serve our clients.  In today’s blog post, I’ll share a personal story of lessons learned as the third generation of a family manufacturing business.

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Millennial Series: Part IV - 3 Reasons Why Young Adults Should Consider Life Insurance

Posted on Thu, Aug 17, 2017

By: Michael Delgado


Today, you are young, energetic, healthy and full of life.  Life insurance is not one of the foremost things on your mind. However, as our guest author Michael Delgado of Northwestern Mutual explains, the death benefit is not the only reason to purchase life insurance. Often considered as part of a holistic financial plan for you and your family, it can be a life saver, while you are still alive.

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The Importance of a ‘Sudden’ Succession Plan

Posted on Wed, Jul 12, 2017

By: Jane Scaccetti, CPA, MT, PFS


A few years ago, a long-time valued client met me for lunch to discuss various business and tax issues. As we concluded lunch, this 65-year-old man asked, ‘Scaccetti, if I die, promise me you are on the first train to NYC and you will run my business until my son can decide to run it or sell it.” Trained to be a  ‘trusted advisor,’  I immediately said, ‘Of course.’ But, prudence soon kicked in.

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Crummey Trusts – An Effective Wealth Transfer Vehicle

Posted on Thu, Feb 27, 2014

Taxes are all we think about this time of year as we plan to file our previous year’s returns. Those with significant wealth often look for ways to transfer assets to the next generation with little or no transfer taxes. No one wants to add Uncle Sam to their estate beneficiary list.

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