Total Credits: 1.2 Self Study
Charitable giving can be a major portion of clients’ trust estate planning and introduce substantial complexity. Charitable giving may be motivated less by a desire for tax savings and more by a desire to have an impact on a specific charity or a community. Clients may also want to retain some measure of control during their lifetimes over the property they are donating and retain income from the property. Though there is a vast array of vehicles and planning techniques to achieve these goals, working through the alternatives is daunting. This program will provide you with a practical guide to the range of charitable giving vehicles, planning techniques to achieve client goals, tax and non-tax tradeoffs, and integrating charitable giving with overall estate plans.
• Charitable giving vehicles and techniques & advantages and disadvantages of each
• Integrating charitable giving into overall estate plans
• Use of Charitable Remainder Trusts and Charitable Lead Trusts to achieve client goals
• Donating life insurance policies and proceeds and related trust issues
• How to restructure restricted charitable gifts
• Tax pitfalls of charitable giving
• Post-mortem charitable giving techniques
• Advantages and disadvantages of using private foundations, supporting organizations, and donor-advised funds
• Structuring funds to provide maximum flexibility to the endowment and satisfy donor demands for control
• Donating illiquid and difficult-to-value assets to charity – real estate, interests in closely held businesses, works of art
• Review of faith-based giving initiatives and related legal issues
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