Not much more to report on this ongoing estate saga with a planned giving twist except that their dreams of retiring to Belize just went up in smoke. See MSNBC’s latest update: Judge Tosses Atty and Accountant http://openchannel.msnbc.msn.com/_news/2011/12/23/9659274-judge-bounces-attorney-and-accountant-from-estate-of-heiress-huguette-clark That has to hurt – $8 mil. hit on both. But it is becoming more and more apparent...
For those blog readers who have followed my various posts on Huguette Clark, here are the latest interesting twists on this story: http://openchannel.msnbc.msn.com/_news/2011/12/21/9615401-tax-fraud-alleged-in-estate-of-heiress-huguette-clark-accountant-resigns This story gets more and more interesting. Who could believe a planned giving story includes such history, intrigue, incompetence, and more?
Based on my previous year-end potpourri post, several readers questioned the point made about credit card gifts technically not completing until the date the charge shows up on the donor’s credit card statement (I heard this from a top planned giving attorney). Interestingly enough, the IRS previously ruled that credit card gifts were not complete until...
The year is winding down and with two weeks left, if you are a planned giving officer or fundraiser that deals with out of the box gifts, it is time to remind ourselves of some of the interesting challenges we might experience. Here is a potpourri of new and old ideas/rules to consider: Mail box rule...
I know this isn’t new – Giving USA 2011 #’s came out in June – but it is definitely something that the planned giving world should take note of. I’ve never been a fan of estate tax repeal. Since a very high percentage of charitable bequests globally come from the potential U.S. estate tax payers...