The federal estate tax is, in a sense, voluntary, because the estate tax charitable deduction allowed under Internal Revenue Code Section 2055(a) can reduce any taxable estate to zero. On the other hand, relatively few estates are now subject to...
Self-made people are often conflicted about philanthropy. Many of them work very hard for their wealth and, to a certain extent, measure their self-worth by the size of their pile. If a client's goal is to not only build his pile but also be...
Private foundations (PFs) remain popular because wealthy donors often want to maintain control over donated assets. In a similar vein, many wealthy families form family offices to provide greater control and oversight over their financial affairs...
Charitable pledges and restricted gifts continue to serve as common means of supporting favored causes. Given the significant capital invested through such gifts, the need for deliberate planning and comprehensive negotiation becomes more...
Precedents, those cases we look back to again and again for guidance when preparing returns or preparing for an Internal Revenue Service audit, aren't typically pro se cases. Van Dusen,1 decided in early June 2011, is an exception. Jan Elizabeth...
There was an old woman who lived in a shoe Had she planned on giving that shoe (her personal residence) to a charitable remainder unitrust (CRUT) or charitable remainder annuity trust (CRAT) and didn't vacate before funding the trust no income tax...
When planning for charitable gifts, especially those accomplished using strategies that result in the gifts unfolding over an extended time, donors and those advising them need to consider the possibility that the rules on how those gifts are...
Many charitably inclined clients abstained from making significant outright donations to charity or creating or funding charitable remainder trusts (CRTs) during the recent economic and tax law uncertainty. They still may be reluctant to donate...