Abstracts » Law

The charitable inheritance teaches children about philanthropy

Article Abstract:

Persons with large estates and IRA accounts who have financially stable adult children may consider using the technique of charitable inheritance rather than making traditional charitable bequests. Charitable inheritance may be instituted through donor-advised funds in foundations. Parents who wish to encourage their adult children's philanthropy and administration skills can designate those children as charitable advisers who suggest targets of the parents' funds. Gifts of appreciated property are particularly appropriate from a tax-planning standpoint.

United States, Usage, Taxation, Charitable trusts

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Innovative estate planning strategies using Roth IRAs

Article Abstract:

The Roth Individual Retirement Account (IRA) offers several estate planning opportunities previously unavailable. No distributions need to be made during the lifetime of a Roth IRA owner, allowing this tool to be established as a trust that a conventional IRA can be rolled over to and that the settlor has not interest in or powers over. The IRS has, as of 1998, not definitively ruled in this matter.

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Customizing IRAs to serve a client's specific needs best

Article Abstract:

Estate planning professionals dealing with large IRA rollovers should customize planning for particular clients rather than using institutional IRA forms. Forms may not include IRS mandated provisions. Optional provisions which may be necessary to add include provisions regarding post-mortem issues, separate internal accounts, incompetency and disability, powers of appointment, and fund transfers.

Planning, Forms (Law)

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