An early pioneer of donor advised funds, Philip T. Tobin is chairman and co-founder of the Hudson, Ohio-based iGiftFund, a national, independent sponsor of donor advised funds. Formerly CFO for the Cleveland Foundation and co-founder of the American Endowment Foundation (AEF), Phil is now dedicated to creating unique experiences for donors and financial advisors at [...]
If you’re like many people who establish a donor-advised fund for philanthropic giving, you probably already have a passion for certain causes. Often, individuals and families set up donor-advised funds out of a strong desire to share their blessings and make positive change in the world. Many donors have given to charities on an individual [...]
If your parents or grandparents have been involved in philanthropic giving for many years, they probably hope you and any siblings will continue to honor this family legacy once they’re gone. How will you do that while also adding your own new story to the legacy of the past? Start by answering why they began [...]
Read Phil Tobin's latest article published in Wealth & Management: Americans are currently experiencing the greatest transfer of wealth in history, and many may be unprepared to successfully navigate it. The statistics paint a picture: An estimated $59 trillion will pass from an aging generation to younger generations by 2061, including $21 trillion destined for charities. At its [...]
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 [...]
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 [...]