The economy is in a temporary mess with home prices diminishing and the stock and bond market falling. Yet, for anyone with a federal estate tax issue potentially at his or her death, this is a good time to give as many assets as one can. This is one of the best opportunities to transfer wealth to younger generations, without incurring the federal estate tax in the process. Continue Reading »
Taxpayers often use charitable remainder trusts to avoid current tax on appreciated property. This is usually accomplished by the contribution of appreciated property to a charitable remainder trust, and then the trust sells the asset. Since the trust is tax-exempt, no current income tax is due on the sale. However, under the tiered income rules, as distributions are made to the grantor, those gains will be taxable to the grantor. Therefore, such planning is usually a deferral mechanism, not a tax elimination mechanism. Continue Reading »
While Americans can realize significant benefits from estate plans, surprisingly, more than half do not have one in place. And, regardless of the size of one’s estate, proper planning can prevent family disputes over the disposition of assets.
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Fred, the flea, was trapped. Not in the fur of a dog or a cat. No. Fred was trapped in a jar with a tightly sealed lid. Continue Reading »
Here is a sample presentation you can watch. The first part is an example of a presentation I made to a non-profit board. http://cps3.growcharity.org/wp-content/uploads/gatheringpart11.flv
This is an example of dialogue you can use in any small group presentation.http://cps3.growcharity.org/wp-content/uploads/gatheringpart2.flv
We just began our Donor Estate Planning Series. We have been sharing with our partner charities ways that could begin looking for gifts that everyone could make. This includes bequests, testamentary gifts etc. Continue Reading »