One of my favorite quotes regarding charitable giving is this statement by Bill and Melinda Gates in their Giving Pledge letter: We have been blessed with good fortune beyond our wildest expectations, and we are profoundly grateful. But just as these gifts are great, so we feel a great responsibility to use them well. . … Continue Reading
As parents, we have the opportunity to teach our children compassion and empathy, to expand their perspective of the world, and to instill in them a sense that they have the power to make the world a better place. Estate planning is an opportunity to continue this teaching process. As Silicon Valley attorney John Hopkins says, when parents leave a portion … Continue Reading
The first thing I do each morning these days is check the Daily Beast and Huffington Post for news about Japan. The stories break my heart. I come from a family that has survived earthquakes. My grandmother’s sister used to tell me stories about the 1906 earthquake — how scared and confused she and the … Continue Reading
This week, the House and the Senate approved the concurrent budget resolution for fiscal year 2010. The budget calls for a permanent extension of the 2009 federal estate tax levels — in other words, a $3.5 million federal estate tax exemption per individual and a 45% top federal estate tax rate. The budget also calls on … Continue Reading
Currently, individuals who are at least 70 1/2 are able to make tax-free charitable gifts directly from their IRAs to eligible charities. This law is set to expire at the end of the year. There are also some important restrictions under the current law: The donor must be at least 70 1/2 Charitable IRA distributions … Continue Reading
I was in San Diego yesterday to give a presentation to the Board of Directors of Employment & Community Options, a public charity that provides employment services for disabled adults in multiple counties in California. The presentation focused on endowment building and planned giving. We discussed why an endowment is key to the survival of a charity — … Continue Reading
