Posted by Nina Whitehurst | Feb 21, 2023 |
A charitable lead annuity trust (CLAT) is an estate planning tool whereby a person (grantor) creates a trust that initially benefits a charitable organization, foundation, or other qualifying entity for a defined period.
Posted by Nina Whitehurst | Dec 11, 2020 |
As we enter the giving season, there is an additional reason to be charitable. Congress enacted a special provision that allows more people to easily deduct up to $300 in donations to qualifying charities this year.
Posted by Nina Whitehurst | Oct 28, 2020 |
Instead of leaving your IRA directly to your children, you can leave it to a charitable remainder unitrust (CRUT) while still benefiting your children. With the SECURE Act making changes to rules about inherited IRAs, this may be an attractive estate planning option.
Posted by Nina Whitehurst | Feb 24, 2020 |
By placing a contingency on a gift, you may feel more comfortable about making large bequests, whether to a university, a charity, or an individual. The inclusion of checks and balances—such as requiring the current beneficiary certify compliance to a contingent beneficiary—the trustmaker can feel peace of mind that his or her wishes will be carried out or that an interested party will step in to remedy the situation if there is a violation of the trustmaker’s terms.
Posted by Nina Whitehurst | Feb 21, 2019 |
“Charitable giving comes in many forms. Some people donate annually to their favorite charities, while others may volunteer their time or professional services. One way many people choose to give to charity, is to donate at the time of their death. Including charitable giving into an estate plan...
Posted by Nina Whitehurst | Aug 21, 2018 |
If you do not have children or a spouse to include in an estate plan, the first thought may be family and friends. That is probably a good place to start.
If you do not have any children or a spouse, there are many options available for creating an estate plan that benefits others, according...
Posted by Nina Whitehurst | Jun 11, 2018 |
Planned giving is one way to leave a good legacy.
Assets are often the first thought about estate planning. However, that does not mean your other values have to be left out of your estate plan completely. You can use your estate plan for planned charitable giving, according to the Nash...
Posted by Nina Whitehurst | Jun 08, 2018 |
There are good ways and bad ways to give to charities. It often depends on the charity.
People often decide to leave some or all of their assets to charity. However, the best way to find out how to give to any specific charity is to talk to that charity, according to Mountain Xpress...
Posted by Nina Whitehurst | Feb 14, 2018 |
Changes may create decrease in donations.
Some of the changes in the new tax laws may mean that 21 million people will no longer take a charitable deduction on their taxes, according to Forbes in "21 Million Taxpayers Will Stop Taking Charitable Deductions Under the New Tax Law."
Posted by Nina Whitehurst | Jan 03, 2018 |
There may be a heavy impact from a new tax law on charities making it less likely that people will donate to them, according to Reuters in "New U.S. law could curb charitable donations."
Posted by Nina Whitehurst | Dec 15, 2017 |
If a university closes its doors, there is a slight chance of getting endowment money back. Every year hundreds of schools close their doors permanently, but still have money in their endowment funds with some chance of recovery by donors.