As I mentioned a few days ago, I had a conversation last week with Bryan Clontz, who I now consider the leading CGA risk expert in the country. If you followed my previous discussion on this topic, you should know that I’ve had doomsday concerns over the whole CGA business for some time. You have...
I highly recommend this piece from the Planned Giving Design Center for some background and perspective on donor restricted gifts. I heard one of the authors (Winston Smith) speak on this topic at a previous NCPG conference. http://www.pgdc.com/pgdc/the-unraveling-donor-intent-lawsuits-and-lessons My rough guess is that 99.999% of the time, charities that veer from their donors’ intent on...
A few weeks ago, an old friend emailed me a chart comparing a charitable gift annuity versus the donor buying a single premium immediate annuity (i.e. commercial annuity) and donating the savings to your organization. The chart was startling. It compared a $1 million CGA for a 74 year old, 6.1% ACGA rate, against the...
If you found this site, that means you have found my new blog under construction! Hopefully, this site will be fully running soon. I plan on posting all new blog posts on this site and on my old blog: http://plannedgift.blogspot.com/ I plan to transfer and organize all of my old posts to this site under...
Ever look over the will of a billionaire? Someone facing claims of billions of dollars by a trustee in bankruptcy. Jeffry Picower will What a strange story. Jeffry Picower was facing gargantuan claims (with a pretty good defense for withdrawals older than 6 years). He signed a new will on October 15, 2009. He died...