Yin and Yang of Charitable Giving: Tax and Practical Aspects of Gifts To and Grants From Charities

Now is one of the best times to take advantage of charitable solutions to help clients make an impact in their community, transfer value and values to their family, and manage their taxes. From affluent to ultra-high net worth, whether an artist, executive, professional, or inheritor, there is a charitable strategy to consider. With interest rates that recently trended to new lows and tax law changes such as the SECURE Act, advisors have a robust toolkit filled with both familiar and novel charitable planning solutions. Learn why many advisors are recommending charitable lead trusts, testamentary charitable remainder trusts, testamentary charitable gift annuities, and donor-advised funds to their clients now more than ever.

Drafting estate planning instruments for clients whose definition of family is one that is fluid and inclusive is more important than ever. Estate planning attorneys have traditionally been accustomed to drafting provisions that exclude family members but doing so without caution may invite a successful probate challenge or worse. In this interactive workshop participants will learn about: 1. Drafting for clients with chosen family, though their biological family members are alive, and no adoption ever took place 2. Designing provisions for Lawful Permanent Residents who have U.S. citizen children but who otherwise have primarily non-U.S. family. 3. Crafting provisions that address disproportionate gifting and that assist in avoiding probate and probate challenges

Focus on drafting tax apportionment clauses and how the standard clause can have unintended consequences if not discussed with the client. We will review several examples to demonstrate how a standard apportionment clause, or a lack of any direction as to the payment of estate taxes, could impact the ultimate distributions under an estate plan.