Charitable Trusts

News & Analysis as of

Pew Checking Accounts Report Makes Troubling Recommendations

The Pew Charitable Trusts has released another report evaluating the checking account disclosure practices of the nation’s largest banks. Despite finding that disclosure practices have improved, Pew again urges the Consumer...more

Standing to Seek Enforcement of Charitable Trusts

“It is the duty of the king, as parens patriae, to protect property devoted to charitable use; and that duty is executed by the officer who represents the crown for all forensic purposes.” Jackson v. Phillips, 96 Mass. (14...more

Nonprofit Revitalization Act Of 2013 -- Best Governance Practices Made Mandatory

On December 18, 2013 Governor Cuomo signed into law the Nonprofit Revitalization Act of 2013 (the “Revitalization Act”), Assembly Bill Number 8072; Chapter 549 of the Laws of 2013. Intended “to reduce unnecessary and...more

IRS To Foreclose Tax-Free Basis Step-Up In Charitable Trust Planning

In Notice 2008-99, the IRS signaled its concern about a planning arrangement involving sales of interests in charitable trusts that could give rise to tax-free increases in basis. Treasury has now issued proposed regulations...more

The charitable corporation: A trust in disguise?

The charitable trust can have certain practical advantages over the charitable corporation, at least in some quarters and under certain circumstances. Operational simplicity and low-cost maintenance are some of the pluses....more

Using a Charitable Trust to Offset Capital Gains

We are approaching the extended income tax deadline for 2012 and it reminded me (as if anyone could forget) that 2013 carries significantly higher income tax rates for a lot of folks. We have the Medicare surcharge, and most...more

Charitable Lead Trusts With Private Foundation Lead Beneficiary

Transfers to charitable lead trusts during lifetime can provide tax benefits to the donor, and can avoid inclusion of the transferred property in the gross estate of the donor for federal estate tax purposes at death....more

Nonprofit Revitalization Act and Executive Compensation Reform Act of 2013

New York Attorney General Eric Schneiderman is urging the state legislature to enact two bills that would reform the statutory requirements for governance of nonprofit organizations – both not-for-profit corporations and...more

The Estate Planner - May/June 2013

In This Issue: - Exemption portability: Should you rely on it? - Decant a trust to add trustee flexibility - Using the GST tax exemption to build a dynasty - Estate Planning Red Flag: Your plan includes a...more

Managing Nonprofits in Troubled Times: New Tools in Trustees’ Toolbox

Non-profits, which depend on both the private economy and the public sector, suffer greatly in economic downturns such as we are experiencing at present. Take healthcare, for example. Consider what happened when the...more

What Mitt Romney’s Tax Returns Teach Us About Accumulating Wealth

To watch our video please click here http://www.scarincihollenbeck.com/what-mitt-romneys-tax-returns-teach-us-about-accumulating-wealth/ The income tax return information released by Governor and Mrs. Romney (the...more

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