Philanthropic Tax Planning for Family Members and CharitiesPhilanthropic Tax Planning for Family Members and Charities

Last month, we wrote about recent changes to charitable giving—from the Setting Every Community Up for Retirement Enhancement Act to the Coronavirus Aid, Relief, and Economic Security Act—and how to make tax-advantageous gifts that directly benefit charities now. This month, we focus on transfers benefiting both family members and charities: how to plan outright lifetime charitable gifts so that the carryover for “excess” gifts doesn’t die with the donor; charitable gift annuities (CGAs); charitable lead trusts (CLTs) (only for abdominous cats); and disclaimers benefiting both families and charities.

Carryovers

A 5-year carryover is allowed for most charitable gifts exceeding the various adjusted gross income (AGI) deductibility ceilings f...