Great question came to me today. An age 70.5+ supporter heard that he could have used the IRA charitable rollover to fulfill his RMD (required minimum distribution) requirement. Problem was that he already took his RMD withdrawal for 2011. Any way to undo the RMD withdrawal and make an IRA charitable rollover gift instead? Sadly, the answer...
My last piece (click here) on the so-called “Charitable Freeze” plan got so many viewers that I think we need a short follow-up. These types of complexities even cause me to glass over so getting the basics down first will help everyone understand the plan. The key to understanding the Charitable Freeze is “discounts” –...
If you are reading this blog, then you are probably looking for info on the newest techniques in charitable planning. Thanks to Neal Myerberg (http://ce.columbia.edu/Fundraising-Management/Neal-P-Myerberg-Biography?context=603), who spoke to the masters group at New York city’s planned giving group (PPGGNY), we have new one to go over! But, before you get too excited, I can already...
There is no official industry name for this technique – but it is certainly not new. What am I talking about? An inquiry came in last week about a donor renouncing their interest in a gift annuity (i.e. giving up the income so that the charity can use the funds now). This is actually a...
We have known this all year long: the 2010 tax relief act only extended the Charitable IRA Rollover provision (direct giving from IRAs for 70.5 year olds for up to $100k) until December 31, 2011. There is no guarantee it will be extended; most likely won’t even be addressed until later into 2012. Actually, this...