Nonprofit Law, Wills, Trusts, & Estate Planning

Why the Classic Legal Terminology of the Anglo-American Trust is in French, Not English: The “Law French” Phenomenon

by Charles E. Rounds, Jr. on 4/1/2013

The institution of the trust, a creature of the English Court of Equity, evolved deep in the bosom of the Anglo-American legal tradition. France, a civil jurisdiction, lacks a legal institution that is truly comparable. Her...more

Consider a Private Foundation to Fulfill Your Philanthropic Goals

by Marla K. Conley, Walter Ferst, Cynthia Fischer, Jonathan R. Flora, Barbara E. Little, Bruce Rosenfield, Roy Ross | Schnader Harrison Segal & Lewis LLP on 2/18/2013

There are a variety of vehicles through which individuals and families can promote their charitable giving goals, and private foundations are often a leading choice. Simply stated, a private foundation is a type of charitable...more

Charitable Giving: Better Late than Never

by Evan Abrams, Barbara Murphy | Farella Braun + Martel LLP on 1/24/2013

The American Taxpayer Relief Act of 2012 (the “Act”), signed into law by President Obama on January 2, 2013, extends favorable tax treatment for qualified charitable distributions made from IRAs (”Individual Retirement...more

Art is Long, Life is Short: Estate Planning for the Artist and the Art Collector

by Sarah M. Johnson, Joshua J. Kaufman | Venable LLP on 12/10/2012

I. NON-CHARITABLE TRANSFERS DURING LIFE Art is particularly well-suited for charitable transfers if the circumstances fit, but not all collectors or artists want to leave their art to a charitable organization. In...more

Preparing for the 3.8% Medicare Surtax on Net Investment Income

by Neal A. Hudders, Mel Wheaton | Perkins Coie on 11/14/2012

The Patient Protection and Affordable Care Act of 2010 (Affordable Care Act) institutes a new 3.8 percent Medicare surtax on net investment income effective January 1, 2013. In addition, absent congressional action to extend...more

Anonymous Charitable Giving

by Reeve Chudd | Ervin Cohen & Jessup LLP on 9/24/2012

Clients often ask how they can make their philanthropic gifts anonymously. There are several reasons they cite for this practice: (a) their gifts may be published in the charity’s website, publications or annual reports,...more

Contributions to Section 501(c)(4) Organizations and the Gift Tax

by Proskauer - Not for Profit/Exempt... on 8/29/2012

Tax-exempt section 501(c)(4) organizations are defined by the Internal Revenue Code as “social welfare organizations.” Treas. Reg. section 1.501(c)(4)-1(a)(2) provides that the organization must be “primarily engaged in...more

Mesa Bankruptcy Attorney: DuPont Living Trust

by Clint W. Smith, P.C. on 7/18/2012

I am Clint Smith. I do wills and estate planning and mainly trusts for people here in Maricopa County Arizona. But there is an issue in the news lately that I thought might be of interest to us here in Arizona and that is, as...more

Might the Trust, a Creature of English Equity, Actually be a Variant of the Waqf, an Ancient Islamic Legal Construct?

by Charles E. Rounds, Jr. on 6/1/2012

The English trust is a unique legal device whose origin has been the source of much debate among legal scholars. There are three theories concerning the origin of the English trust: the Roman, Germanic, and Islamic. Until the...more

Advanced Estate and Tax Planning for Art and Other Fine Collections

by InKnowVision on 5/8/2012

A composite of studies of trust and estate attorneys, trust officers, and financial planners revealed that: • Fewer than 10% of plans for their clients addressed art, antiques, and collectibles • Fewer than 10% used art...more

New Pennsylvania Rules Require Immediate Appeals in Matters Involving Trusts, Charities, and Other Proceedings Heard by...

by Schnader Harrison Segal & Lewis LLP on 2/29/2012

On February 13, 2012, new amendments to the Pennsylvania Rules of Appellate Procedure took effect and made substantial changes to the right to appeal from orders entered by Pennsylvania’s Orphans’ Courts. The...more

Reliving the 200-year Saga of Benjamin Franklin’s Massachusetts Trust

by Charles E. Rounds, Jr. on 1/1/2012

Next year, 2013, marks the 20th anniversary of the judicial/political resolution of the final controversy over the administration and disposition of a certain Massachusetts-sited trust established under the will of Benjamin...more

Could the Myriad Codifications of Aspects of the Law of Trusts Culminating with the Uniform Trust Code (2000) Be Doing More Harm...

by Charles E. Rounds, Jr. on 1/1/2012

Though the trust is a judge-made creature of equity, the last eighty years have seen numerous rounds of uniform legislation codifying various aspects of the law of trusts, beginning with the Uniform Principal and Income Act...more