Roxborough Windflowers Club: The Tax Man Cometh

Last Monday, Presidential Brokerage,  gave an informative presentation to the Roxborough Windflowers Club about how to avoid tax traps in retirement.

Marla Mason, a certified financial planner from Presidential Brokerage, began the presentation.

Marla Mason, a certified financial planner from Presidential Brokerage, begins the presentation.

Certified Planners Marla Mason and Peter Lengsfeld had a “knack” for making these complex concepts understandable. They offered a multitude of pertinent tax saving topics for charitable giving, 529 education savings plans, beneficiary designations, and IRA distributions to an attentive Roxborough audience … and the tasty refreshments provided by the Hospitality Committee were much appreciated.

Marla explains some tax traps you can to avoid with proper planning.

Marla explains some tax traps you can to avoid with proper planning.

Some of the interesting facts that Marla and Peter brought to our attention:

  • Be sure to designate both primary and contingent beneficiaries, because often you and your spouse are in the same automobile or traveling together on the same plane flight.
  • Avoid naming your estate as beneficiary for IRAs and qualified plans because an estate doesn’t have a life expectancy like a person does.  In most cases, the taxable distributions would have to be made over a much shorter time frame than would apply if an individual was named as beneficiary.
  • If parents own a 529 education savings plan, it may affect a child’s ability to get financial aid.  This problem does not occur if grandparents own the 529.
  • Give signed copies of your Durable Power of Attorney documents to your designated agent because they will not be able to get into your safe deposit box if you store these important documents at the bank.

To find out more, you can contact Marla or Peter at 303.694.1600. Their office is located in the Denver Tech Center.

Peter Lengsfeld, another certified financial planner from Presidential Brokerage, gives pertinent statistics to help us understand how inflation rates are determined and the related problems we may face in future years.

Peter Lengsfeld, another certified financial planner from Presidential Brokerage, gives pertinent statistics to help us understand how inflation affects future college tuition for our are children and grandchildren.

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25 Windflowers members and guests attended “The Tax Man Cometh” presentation.

Did you know that the beneficiary statement may be the most important estate document? Marla Mason explains why.

Did you know that the beneficiary statement may be the most important estate document? Marla Mason explains why.

Windflowers President, Donna Johnson, shows the members a photograph of December's Holiday Tea at the Augustine Grill that she placed in the Roxborough Echoes newsletter. We are always looking for new members.

Windflowers President, Donna Johnson, shows the members a photograph of December’s Holiday Tea at the Augustine Grill. She posted this in the Roxborough Echoes newsletter. We are always looking for new members.

Treasurer Adrienne Malec gives us the good news about the Windflowers financial status and our checking balance.

Treasurer Adrienne Malec gave us the good news about the Windflowers financial status and our checking balance.

The chocolate covered strawberries were as good as they looked.

The chocolate covered strawberries were as good as they looked.

Tasty Valentine's Day treats

Tasty Valentine’s Day treats for the break.

A nice fruit plate for the healthy eaters in our group

A nice fruit plate for the healthy eaters in our group

A lovely table by the Windflowers Hospitality Committee

A lovely table by the Windflowers Hospitality Committee

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