By David M. Watts, Jr.
If you are charitably inclined, there are tax-advantaged ways to make a gift to a favorite charity while enjoying the income from that gift for your lifetime. Many educational and charitable organizations offer plans that combine...
By Danielle T. Zaragoza ,
Esq., Morrison &
Not all charitable gifts are created equal, and a charity is
not required to accept any and all donations of property, especially property
that may be difficult to own or liquidate in...
By Genevieve M. Moore,
As estate planners, we are familiar
with advising clients about charitable gifts.
Gifts and bequests can yield valuable income, gift and estate tax
deductions to donors, and of course provide significant philanthropic...
BY: FARHAD AGHDAMI
2012 may present the single greatest opportunity for wealth transfer planning in recent memory. A $5.12 million gift tax exemption, combined with low interest rates and historically low valuations for many asset classes, creates...
By J. Corey Reeder
planning lawyers discuss gifting as an estate planning strategy with
clients, there are a few very important components to this discussion
that must be reviewed in order to most effectively leverage gifting as ...
By Wendy M. Greenberg, Esq. of Morrison
& Foerster LLP
Thanks to the eleventh hour
passing of the 2010 Tax Relief Act (the "Act") and the temporary opportunities
provided by the Act, our firm's Trusts and Estates group, like many...
By Jean C. Hemphill and Christopher A. Jones
The IRS has published welcome, long-awaited guidance regarding the deductibility of contributions made to a single-member limited liability company (LLC) owned by a charitable organization.
For a variety...
The Tax Relief Act of 2010 was overwhelmingly passed by Congress and
signed into law by President Obama on December 17, 2010. The new law
provides numerous tax benefits for businesses and individuals for the
next two years, including:
By Sonja K. Johnson , Esq., Morrison &
family foundations have long been a popular vehicle for high net worth
individuals to take advantage of valuable tax planning opportunities while
maintaining ongoing involvement with...
By Danielle T. Zaragoza,
Esq ., Morrison &
relatively large federal gift
tax applicable exclusion amount
available for taxable gifts in 2011 and 2012, many clients have made or are
considering making significant gifts...
By Wendy M. Greenberg, Esq. , Morrison & Foerster LLP
It is not at all uncommon for our clients to make provisions for long-time
employees in their wills or trusts. Most
of the time, we don't think twice about these bequests, because we know...
Section 301 of the Heroes Earnings Assistance and Relief
Tax ("HEART") Act of 2008 added new sections 877A and 2801 to the Internal
Revenue Code ("IRC"). These sections
generally apply to any U.S. citizen who relinquishes his or...
By Sonja K.
Johnson, Esq ., Morrison & Foerster LLP
Fluctuations in today's economic climate necessitate that
individuals and their estate planning professionals consider the possibility of
abatement (i.e., reduction of gifts due to insufficient...
By Genevieve M. Moore & Richard S. Kinyon , Morrison & Foerster LLP
As reported in
this space over the last several months, there has been unprecedented upheaval
in the federal transfer tax world in the last few years. One element of this...
As an alternative to
gifting direct interests in a family home to children, a donor can establish an
inter vivos trust for the benefit of children or other family members and make
gifts of interests in the property to such a trust during life. There...