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Inherited IRAs: A charitable solution?
Remember the good old days when your clients could withdraw the money they inherited in their parents’ IRAs over the course of their lifetimes, thereby deferring the income tax for as long as possible? This so-called “stretch IRA” was largely...
Tax legislation: What’s the latest?
The One Big Beautiful Bill Act was signed into law by President Trump on July 4, 2025, after the House of Representatives approved the Senate’s changes to H.R. 1, which passed the House by a narrow margin in May. The OBBBA, with nearly 900 pages of provisions,...
Charitable mindset: What are clients thinking?
Don’t you wish you could read your clients’ minds? Understanding what clients really care about is crucial to constructing any estate or financial plan. When it comes to charitable giving, you can be a step ahead. Plenty of research offers clues about what matters...
Donating business interests: Why a fund at the Wayne County Foundation is the ideal recipient
If your client base includes business owners, you probably weren’t surprised by this observation in a recent Wall Street Journal article about the “stealthy wealthy”: “Behind a paycheck, the largest source of income for the 1% highest earners in the U.S. isn’t being a...
More questions than answers: Pending tax legislation
There’s little doubt that you’ve seen extensive news coverage of the so-called "Big Beautiful Bill" (H.R. 1) that passed the House of Representatives by a 215-214 vote on May 22, 2025, and now moves to the Senate, where significant changes are expected before final...
Easier than you might think: Moving a donor-advised fund to the community foundation
As you advise clients on charitable giving, you’re likely aware of the growing popularity of the donor-advised fund as a flexible, tax-efficient tool for philanthropy. Many families appreciate how donor-advised funds can streamline giving, foster family engagement,...
Refresher course: Charitable gift annuities
If you are fielding questions about charitable gift annuities (CGAs) here are some reasons they may be on your client’s mind: A $54,000 opportunity Word is finally getting out about the availability of a one-time Qualified Charitable Distribution...
Weighing the options: Private foundation or donor-advised fund?
When you’re working on the charitable components of a client’s estate or financial plan, one of the first areas you’ll likely explore is the structure. Certainly you are familiar with both private foundations and donor-advised funds as useful charitable giving tools....
Caught by surprise? In case you missed it, here’s what’s going on
Keeping up with an ever-evolving landscape of tax legislation can be a full-time job! Here’s a quick rundown of three things you need to know: Sunsetting provisions of the Tax Cuts and Jobs Act of 2017. The TCJA’s scheduled expiration at the end of 2025 will...