Nonprofits Wills, Trusts, & Estate Planning

Read need-to-know updates, commentary, and analysis on Nonprofits issues written by leading professionals.
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Impact Investing and Private Foundations

Bryan Cave recently organized a half-day symposium examining the opportunities and legal considerations related to responsible and impact investing strategies. The Responsible and Impact Investing Symposium, held on November...more

The Uniform Trust Decanting Act's conflicting commentary

The texts of the myriad trust-related uniform statutes could be better coordinated and synchronized. So also could the official commentaries that accompany the myriad sections of the individual uniform statute. Take, for...more

Estate Planning NOW: Preparing for a New Government

It’s impossible to predict what any future president will do, or what Congress will approve. But in light of comments president-elect Donald J. Trump made on the campaign trail, and given that Grand Old Party members will...more

Law Passed Amending NPCL

Over the summer, we posted about Bill No. A. 10365B/S. 7913, containing amendments to the New York Not-for-Profit Corporation Law (the “NPCL”) and the New York Estates, Powers and Trusts Law (the “EPTL”) here. After...more

Make Your Charity Great Again; Double-Check Your Compliance With State Registration Laws

Earlier this month, the New York Attorney General’s office ordered Donald Trump’s foundation to immediately stop soliciting charitable donations in the state. The attorney general also demanded that the Trump Foundation...more

Transferee Liability: The [Unlikely] Situation that your Nonprofit Receives a Charitable Gift with Expensive Tax Strings Attached

The case of Salus Mundi Foundation et al v. Commissioner - On August 15, 2016, the Tax Court decided in Salus Mundi Foundation et al v. Commissioner, T.C. Memo. 2016-154, that two foundations were liable as transferees...more

2016 New York Tax Update: Highlights and Lowlights

There wasn’t much in the way of substantive New York tax changes in the 2017 budget bill that Governor Andrew Cuomo signed in April. Or at least wasn’t much in the way of changes that affect the day-to-day practices of the...more

Consider Your Options for Charitable Giving - Trusts and Estates Update Volume 2016, Issue 1

There are many charitable giving options that are available to fit a donor’s specific goals. You do not have to be Bill Gates or Warren Buffett to make a difference in the world now and after you are gone. Most of our...more

What Does the Chan Zuckerberg Initiative Mean for Modern Philanthropy?

In an open letter to their newborn daughter last December, Facebook CEO Mark Zuckerberg and wife Priscilla Chan announced they will eventually give 99 percent of their Facebook shares during their lives to a variety of...more

Wealth Management Update - July 2016

July Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The July § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

NPRA Redux: Proposed NPCL Amendments Approved by Senate and Assembly

The New York State Assembly and Senate have passed a bill that, if signed by the Governor, would amend the Not-for-Profit Corporation Law (the “NPCL”) and the Estates, Powers and Trusts Law (the “EPTL”) to clarify and refine...more

Wealth Management Update - June 2016

June Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts The June § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs...more

Sole interest or best interest: Equity's traditional default loyalty principle is under attack

Some in academia have been advocating that trustees generally be held to a best-interest-of-beneficiary default standard rather than the traditional and more rigorous sole-interest-of-beneficiary default standard. See Loring...more

Post-Death Action Reduced Amount of Estate Tax Charitable Deduction

Decedent died and left a majority stake in a real property management corporation to a private foundation. The estate tax value of the stock was $14.182M. After the decedent’s death, but before the stock was transferred...more

Is there a practical difference between Equitable Deviation and Cy Pres when it comes to seeking modification under the Uniform...

Assume an income-only charitable trust with the following administrative term: The trustee may only invest in “insured bank accounts and government securities.” Section 412(b) of the Uniform Trust Code (UTC) provides that a...more

Wealth Management Update - March 2016

March Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The March § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Treasury Green Book Proposals — Charitable Contribution Deduction Limitations

The Department of the Treasury has released the Treasury Green Book for Fiscal Year 2017, which provides explanations of the President’s budget proposals. One such proposal (remember…these are just proposals, not actual...more

Treasury Green Book Proposals — Private Foundations

The Department of the Treasury has released the Treasury Green Book for Fiscal Year 2017, which provides explanations of the President’s budget proposals. One such proposal (remember…these are just proposals, not actual...more

Will 2015 IRS Notice Boost Foundations’ Mission-Related Investing in 2016?

Foundations are effective vehicles for families who want to make a collective philanthropic impact now and for generations to come. Traditionally, foundations have achieved this impact solely through strategic grantmaking. A...more

When interest rates are low, it’s high time for estate planning

Interest rates remain at record lows, and while many experts believe they’ll begin to rise soon, it’s likely they’ll rise slowly. So it’s an ideal time to implement estate planning strategies that are most effective in a...more

How Your IRA Can Benefit Both Your Heirs and Charity

Do you want to use your IRA to help a charity, but also benefit your heirs? Instead of leaving your IRA directly to your children, you can leave it to a charitable remainder unitrust (CRUT) while still benefiting your...more

Donors and Charities Benefit Under New Tax Legislation

While most provisions of the Internal Revenue Code (“Code”) do not automatically expire, there are dozens that do. Included among the expiring provisions have been several intended to enhance charitable giving. Each has been...more

IRA Charitable Rollover Provision Becomes Permanent Law

The IRA charitable rollover provision of the Internal Revenue Code, which allows individuals age 70½ or older to transfer, tax-free, up to $100,000 per year from an IRA to one or more eligible charities, has become permanent...more

The Charitable IRA Rollover is Now Permanent!

Under the normal rules, an IRA distribution is included in the gross income of a donor, who then may claim a charitable income tax deduction if she contributes that money to charity. There has been a special rule for...more

Permanent Charitable IRA Rollover

Congress recently made permanent the IRA charitable rollover. Individuals over age 70½ can make lifetime gifts, up to $100,000 per year, to qualified public charities from their individual retirement accounts (IRAs). To...more

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