Americans have a deep desire to become involved with and have an impact on various societal issues and alleviate suffering where there’s great need. If you’re involved in regular charitable giving, you know how satisfying it is to know that you’re truly making a difference. Giving cash, often referred to as “checkbook charity” is the [...]
No doubt, the Tax Cut and Jobs Act (TCJA) of 2017 will change your tax planning in one way or another. Despite any alterations to your planning process, there’s one thing that won’t change: the desire held by many people to donate to the charities and causes they care about. And this drive to give [...]
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’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 [...]
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 [...]