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Jan 1, 2012 12:00 PM
A Year of Speculation
Despite continued uncertainty in the tax laws and financial markets, donors have some unique opportunities to complete gifts in 2012
As we embark on charitable gift planning for 2012, a look back at the events affecting philanthropy in 2011 can be helpful. At first glance, the events of 2011 may portend another year of uncertainty. But, when it comes to estate and financial planning, charitable giving opportunities now exist to complete gifts that yield benefits for donors and recipients that may not be available in 2013 and beyond.
We began 2011 with the understanding that Congress had, through late 2010 legislation, opened a two-year window of opportunity that not only extended Bush income tax cuts, but also surprised planners with a provision for the reunification of federal estate and gift tax exemptions at $5 million per person (to be adjusted for inflation). This twist in the law, combined with lower interest rate assumptions used under Internal Revenue Code Section 7520 to determine the discount rate for valuing assets for tax purposes, resulted in a higher level of interest in a number of philanthropic planning tools. For example, many well-advised donors became interested in charitable lead trusts (CLTs), charitable remainder trusts and charitable gift annuities (CGAs) for the benefit of loved ones and transfers of real estate to charity with the donor retaining use of the property for life or some other period.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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