Gift Planning Tips
Escaping Tax on Excess Life Insurance
Workers whose employers provide group term life insurance are subject to income tax on the premiums for coverage in excess of $50,000 [Code §79(a)] . . . more
ESOP’s Charitable Fables
One way for a business owner to postpone the recognition of capital gains tax on the sale of a company is through the establishment of an employee stock ownership plan (ESOP) — a form of retirement plan [Code §1042(b)(1)] . . . more
Leading Donors to Bigger Deductions
Philanthropic clients who plan to retire within a few years might not realize that lowered retirement income means reduced charitable deduction limits (50% or 30% of AGI for gifts of cash or appreciated assets, respectively) . . . more
How Long Can Trusts Last?
The payment of a charitable remainder annuity trust or unitrust may not extend beyond the lives of one or more named individuals and a term greater than 20 years . . . more
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ANNUAL WAIT OVER FOR IRA ROLLOVERS
COURT RECONSIDERS 50-YEAR-OLD PRECEDENT
Extrinsic evidence admissible to determine testator’s intent.
IRS HAS SECOND THOUGHTS
Alternative to contemporaneous written acknowledgments issued, then withdrawn.
LIMITATIONS DON’T APPLY TO TRUST GIFTS, COURT HOLDS
Property purchased with income remains income.
CONSERVATORS CAN’T MAKE CHARITABLE CHOICES
Remainder in special needs trust must pass by intestacy.
CONTROVERSY STILL PENDING WHEN DEDUCTION CLAIMED
Charitable amount not permanently set aside under Code §642(c)(2).
DONORS: 0, IRS: 2
Two appellate courts agree on mortgage subordination to easement property.
May 2016 Archive
• For What It's Worth
• These Gifts Require Special Attention
• Borrowing to Make a Charitable Gift
• Love and Charitable Remainder Trusts
April 2016 Archive
• Cash (Saving) Crops
• Life Expectancies and Actuarial Values
• Controlling IRA Distributions from Beyond the Grave
• Charitable Solution to Excess Earnings
March 2016 Archive
• Raining on the Grandchildren
• Deferred Charitable Gift Annuities without the Worry
• Real Opportunities in Real Estate Gifts
• Charitable Remainder Trusts to Encourage Good Behavior?
February 2016 Archive
• Plan Early for IRA Rollover Gifts
• When to Choose a Charitable Remainder Annuity Trust
• Advantages of Giving Closely Held Stock
• Charitable Gifts that Thrive on Low Interest Rates
January 2016 Archive
• Congress Leaves a Year-End Gift
• Blending Income Tax and Transfer Tax Savings
• Best Assets for Funding Testamentary Charitable Remainder Trusts
• Choosing a Term-of-Years Charitable Remainder Trust
December 2015 Archive
• Charitable Giving Translation
• Three Routes to Tax-Free Income from Charitable Gifts
• Paying for a Bequest
• Living Trusts a Good Place for Charity
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