September Roundup for Donors and Advisors

Professional Advisors

In this month’s installment of the monthly roundup for donors and advisors, we look at married couples and property, roadside assistance services for drivers, tax laws for private charitable foundations and more. Read below to stay in-the-know on industry news.

Roundup for Donors

Savvy Living: Roadside Assistance Services for Drivers
Getting set up with a roadside assistance service you can call on day or night if your vehicle breaks down is a smart idea and can provide you and your loved ones with peace of mind. This article contains different options and information to help you find the right plan.

Personal Planner: Married Couples and Property
Joint tenancy for married couples is very simple and quite common. However, it’s not always the best plan, especially if there is a second marriage or blended family. Learn about the differences between joint property, separate property, community property and the potential results – positive and negative – of each arrangement.

Washington News: Ways and Means Committee Passes Five Permanent Extenders
Ways and Means Committee Chairman Paul Ryan continued his effort to pass permanent tax extender bills. On September 17, the Committee passed five permanent bills affecting teachers and businesses, including bills affecting bonuses and teachers’ expense deductions.

Roundup for Professional Advisors

Article of the Month: Portability: Deceased Spouse and Surviving Spouse
This article provides a brief history of the development of the portability rules for unified gifts and estate tax and examines how those rules exist today. There is also a discussion of the effect of the portability rules on the use of traditional bypass trusts.

Case of the Week: Lucy Pays Tax on “Northern Long Shot” Foundation Income
When “Lucky Lucy Lindstrom” wanted to give stock options to a foundation to help those in need, her attorney informed her that the Northern Long Shot Foundation, a private charitable foundation, would have to pay excise tax on income. Find out why.

GiftLaw Calculator: Deduction Calculator
This Deduction Calculator can solve all of your planned gift needs, from gift annuities to remainder unitrusts, remainder annuity trusts and lead trusts. The GiftLaw Calculator follows the IRS format.

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