Lessons From the Experts Charitable planning can be one of the most satisfying areas in which an advisor can practice. Charitable planning is a specialty, however, with technical rules and an abundance of potential pitfalls. The purpose of this article is to alert you to some of the pitfalls you may encounter, enabling you to do a better job for your clients.More
Maximize Memorials for a Lasting Influence Individuals who want to make memorial gifts in honor of a loved one need our compassionate guidance as advisors during a difficult time. Using the proper techniques, as professional advisors we can direct donors toward a much more influential and meaningful gift than they may originally have in mind. Memorial gifts can bring a sense of togetherness, closure and satisfaction to your clients.More
The QTIP Trust--Benefiting the Blended Family The QTIP trust provides great flexibility in federal estate tax planning particularly for "blended families" that include children from a previous marriage. If you have a client who wants to provide for a spouse, yet also wants to make sure any money remaining at death returns to his or her own children, read on to find out the requirements for a QTIP, the options available and what obstacles to avoid.More
Charitable Planning Mistakes to Avoid This article highlights specific areas of the charitable planning process where mistakes seem to recur based on the authors' combined experiences. As you read through the article, mistakes from the seasoned professional to the charitable planning novice are highlighted. By sharing these real-life situations, the authors hope to disperse knowledge, not from the painful school of hard knocks, but from the less painful old cliche, "learn from the mistakes of others."
Strategies That Use Life Insurance as a Charitable Component Any nonprofit organization would welcome a generous donation from one of your clients. Cash and marketable securities are often the most liquid assets used to help sustain an organization's operations. Planned gifts, however, can be funded with many types of assets, including life insurance.More
Testamentary Gifts to Help Children and Grandchildren Several types of charitable techniques are available to donors whose planning goals are twofold: one, to provide benefits to the donor's favorite charitable organizations, and two, to financially assist the donor's children and grandchildren.More
Charitable Remainder Trusts: Robust Yet Underused Scenarios Charitable gifts, like financial plans, should be tailored to individual circumstances and can often improve the client's position. This article features novel client situations in which a charitable remainder trust (CRT) is used to save the day. As is true with any creative planning idea, these techniques work in these particular circumstances, but they hopefully will lead you to recommend a charitable gift, particularly a CRT, in situations where it may not be immediately obvious.More
Family and Charitable Planning for Retirement Accounts The Department of Treasury has improved and simplified regulations that govern mandatory distributions from qualified retirement plan accounts. The regulations reduced the minimum annual distributions that must be made during a person's retirement years, so more money remains in the plan for future needs. They also made it simpler for family, friends and charitable organizations to obtain flexible payout arrangements after the account owner's death.More