Hazel Van Dyke Patterson One October day 34 years ago my mother was a vibrant 71-year-old who loved to bowl and visit friends. The next she was gone. Only it didn’t seem like it. In many ways she was still with me, and from time to time I would find myself talking to [...]
As you may already know, a donor advised fund (DAF) is a charitable giving vehicle sponsored by a public charity. When your clients establishes a donor advised fund with iGiftFund, they are dealing with an entity recognized by the IRS as a public charity that "sponsors" the DAF. At iGiftFund, we hold ourselves as not [...]
We all leave a legacy that has nothing to do with the assets that comprise our estate. We can have absolutely nothing, no material possessions at the end of our life, and still we have a legacy. That legacy is our story and our values. Those are what we pass on to our children and [...]
We’ve all heard the expression Shirtsleeves to shirtsleeves in three generations—one generation accumulates the money and the next two spend it down to zero or thereabouts. Shirtsleeves-to-shirtsleeves seems to put the blame for dissipating the family wealth on the backs of the children and grandchildren. But is that the only place it belongs? If the [...]
Read about Donor Advised Funds in this Crain's article by Jeremy Nobile Whether it's for the tax benefits, low hurdles for participation, overall flexibility or a number of other factors, donor-advised funds (DAFs) are seeing capital flowing in and out of them reach record levels. And even though new tax codes in 2018 have cast [...]
News Release Phil Tobin Launches National Donor Advised Fund iGiftFund to Participate in Fastest Growing Planned Giving Platform in America Hudson, Ohio – July 1, 2018 – Eighteen months after leaving American Endowment Foundation (AEF), Hudson, Ohio resident Phil Tobin announces the launch of iGiftFund, an independent, advisor-managed, Donor Advised Fund (DAF) with the goal [...]
It’s the week before Christmas. One of your favorite clients, Bill Smith, calls to tell you that he just received an unexpected year-end bonus of $175,000 and he is concerned about this taxable event. He wants your advice on charitable giving options. With only a few days left, the clock is ticking. What advice can [...]
While you may benefit from reduced tax rates and expanded tax brackets, it’s likely that many taxpayers will elect not to itemize this year. Rather, you may opt to claim the higher standard deduction (for 2020 - $12,400 for single filers and $24,800 for married filing jointly). With that in mind, here are several strategies that [...]
Anyone who’s ever given to charity knows about year-end giving and the pressure that comes along with it. You want to get the right deduction by December 31st. Right now you may be waiting for recommendations from your financial advisor and accountant about what needs to be done to offset potential taxes. Giving cash is quick and [...]
Wealthy families lose their money every day. Statistics show that 70% of the family fortunes created in America are gone in two generations and 90% within three. One of the factors contributing to this dismal record is a misunderstanding of what comprises a legacy. Legacy is more than the sum total of the material assets one [...]