Explore Ways to Give in Uncertain Times
For those who are charitably inclined, a challenging economic climate might actually serve as an inspiration to become more intentional about giving priorities. What’s more, not all donors plan to reduce their philanthropy in the face of financial headwinds.
Below are three messages worth sharing with your clients as bear market conditions hang on into the fourth quarter.READ MORE
Be a Resource on Inherited IRAs
Don’t be surprised if your clients are walking into your office in a state of bewilderment over something they’ve read recently about the IRS’s distribution rules for inherited IRAs.
Until the law changed a few years ago, a client who was named as the beneficiary of a parent’s IRA, for example, could count on a relatively straightforward and tax-smart method of withdrawals called the “stretch IRA.”READ MORE
Make Lemonade from (Higher Interest Rate) Lemons
When interest rates are high, your clients may want to look closely at annuity vehicles that leave a remainder gift to charity, such as a charitable remainder annuity trust or a charitable gift annuity.READ MORE
Harvesting a Family Legacy
August 2022 – Farms, tax planning, & funding a family legacy
With 2,802 parcels of vineyards and 65,000 acres of farm and ranch lands, its likely you have a client who owns an acre or two, representing millions of dollars of family wealth.
Farmland and vineyards, like many other hard-to-value assets, tend to carry plenty of emotional attachments. These properties can be hard to deal with in an estate plan because of the challenges of multiple owners and the complexity of the estate tax as it’s applied to farm-related assets. However, there are some excellent philanthropic options for your clients who own farmland or vineyards.READ MORE
Summer legislative updates and looking ahead to sunsets
August 2022 – Reconciliation legislation is back in play, the proposed legislation is far less sweeping than earlier versions. Notably, the proposal includes $80 billion in budget increases for the Internal Revenue Service to help pay for enforcement efforts to collect taxes. Taxpayers and their advisors can likely expect greater scrutiny from the IRS on complex or aggressive transactions in the years ahead if this legislation passes.READ MORE
QCDs: Good news and important reminders
Qualified Charitable Distributions, or “QCDs,” have been in the news a lot lately, especially in light of proposed SECURE Act 2.0 legislation that passed the House of Representatives in March and is now pending in the Senate.READ MORE
NIMCRUTs: a tool for giving and income timing
June, 2022 – Clients who own closely-held businesses, real estate or even cryptocurrency may be good candidates for a particular type of charitable remainder trust known as a NIMCRUT, which is short for “Net Income with Makeup Charitable Remainder Unitrust.”READ MORE
Private Foundations, RMDs and DAFs
June, 2022 – Families who conduct their philanthropy using both a private foundation and a Donor Advised Fund will want to plan carefully if a particular item in the Fiscal Year 2023 budget package becomes law.READ MORE
Bequests: the fastest growing part of the Foundation
April 2022 – If you’re an estate planning attorney, you may already know that the Foundation serves as a watchdog for generous people who pass away and want to leave a legacy benefiting the Valley. But you might not know this: by June, half of our total assets will have originated via bequest.Read More
Donor Advised Funds: new rules on the horizon?
April 2022 – You’ve probably noticed that Donor Advised Funds (DAFs) have been featured more prominently over the last few weeks in financial and wealth management publications. That’s in part because the Accelerating Charitable Efforts Act was reintroduced in the House of Representatives on February 3, 2022.Read More
Privately-held business interests: a source for giving
April 2022 – The number of businesses in the United States totals more than 27 million, but only a tiny fraction of those are publicly traded. In Napa Valley’s viticulture economy, LLCs are nearly as common as award-winning cabernets – and we’ve helped a growing roster of donors make tax-smart contributions of such assets in recent years.Read More