Gift Planning Tips

Buy the Sports Car or Save for Retirement?
An estimated $59 trillion will pass from estates by 2061, according to a recent study by the Center on Wealth and Philanthropy at Boston College . . . more

When It’s Time to Part with Collectibles
Slightly more than half of wealthy Americans (those with at least $1 million in investible assets) engage in hobby investing, according to a study by BMO Private Bank released last year . . . more

Two Clauses for Every Will
Attorneys rely on boilerplate language for some sections of wills they draft (e.g., revoking all prior wills and codicils, signatures of witnesses), but there are two more options that attorneys should ask clients about including . . . more

Not All Stepparents Are Wicked
With more and more blended families in the U.S., stepparents and stepchildren are a fact of life . . . more

 

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COURT RESOLVES DUELING WILL PROVISIONS
Testator couldn’t have intended to give personal property both outright and in trust.

SUCCESSOR ORGANIZATION NOT ENTITLED TO DISTRIBUTIONS
Charitable purposes not the same as that intended by testator.

WHAT’S IN A NAME? NOT $5.5 MILLION
Court voids agreement it finds grossly unfair.

TAX COURT IN GENEROUS MOOD WITH CHARITABLE DEDUCTION
Donors made anonymous cash gifts to their church.

NO SELF-DEALING IN CORRECTING SCRIVENER’S ERROR
Grantors hadn’t intended to create net-income with make up unitrust.

LEAD TRUSTS AND PLEDGES NOT SELF-DEALING
Disqualified persons not personally obligated.

DISQUALIFIED PERSON’S BENEFITS MERELY INCIDENTAL
Storage of artwork on loan won’t be self-dealing, IRS rules.


November 2014 Archive
• Options for Donors Stuck at 2.2%
• Making Lemonade from the Stock Market’s Drop
• What Is and Isn’t a Triggering Event?
• Don’t Let a Good Deduction Go Bad

October 2014 Archive
• Borrowing to Give
• First the Gift, Then the Liquidation
• Time to Check Withholding, While There's Still Time to Adjust
• Remainder Trusts, Lead Trusts and Life Expectancies

September 2014 Archive
• Landing a Deduction for Business
• Comparison Shop with Stock Gifts
• Charitable Ideas for Gen Xers
• Dances and Auctions and Golfing . . . Oh My!

August 2014 Archive
• Charitable Giving: It’s Good for Business
• Two Provisions for Every Will or Trust
• An Alternative to Dormitory Life
• Don’t Need Life Insurance for Taxes? Give Policies to Charity

July 2014 Archive
• Spring Statistics of Income Bulletin Shows Upswing in Noncash Contributions
• Gifts of Corporate Stocks Averaged $142,409
• Fate of IRA Gift Legislation Awaits Lame Duck Session
• Hedging One’s Bets on the Longevity of a Bull Market

June 2014 Archive
• Charitable Gift Opportunities with Living Trusts
• Power of Attorney for Philanthropy
• Charity as the “Ultimate Contingent Beneficiary” of an Estate
• Charitable Bequests of Tchotchkes and Knickknacks