The Service has ruled privately that a transfer by a trustee to a town's conservation fund of an easement is a transfer of a qualified real property interest that is a qualified conservation contribution and so long as no one has claimed an income tax deduction for it, an estate tax deduction is allowable for the transfer.  MORE »

For the last five years or so, Gift-PL (the email listserv operated by the National Committee on Planned Giving) has periodically included a discussion thread asking if anyone knew when the latest edition of Debra Ashton's book, The Complete Guide to Planned Giving, would be released. The anticipation and speculation was intense. Well, it's here and Debra has allowed us to give you a peak behind the cover.  MORE »

Last week the PGDC published the first of two "white papers" commissioned by Leimberg Information Services on the subject of financed charitable life insurance programs entitled "Insurable Interest Under Siege." In this second paper, attorney Lawrence L. Bell presents the case for this technique - but lays out many issues and cautions which must be considered by charities and their advisors.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2004-54 indicates the charitable federal midterm rate under section 7520 for June 2004 is 4.6%; up 0.8% from the May and April rates of 3.8%.  MORE »

For the past several decades, life insurance has been used in connection with charitable giving as both a gift vehicle and as a wealth replacement tool. In this white paper, commissioned by Leimberg Information Services, Inc., Michel Nelson from Iowa Savings Bank discusses a new arrangement whereby large numbers of individuals lend their insurable interests to a charity, which through sophisticated premium financing techniques then appears to receive millions of dollars of life insurance at no cost to the charity or the insureds. Next week we will publish Part II in this series, "Charities and Insurance: The Next Big Thing?" by attorney Larry Bell, and then let you decide.  MORE »

The Service has ruled that a child's disclaimer of a fractional portion of a decedent's residuary bequest will be valid if timely changes to the governing instruments are made and, as the amount will pass under the decedent's will to a private family foundation, that the disclaimed amount will qualify for an estate tax charitable deduction.  MORE »

The Service has ruled that a private foundation's initial and subsequent investment in a family-run partnership will not be an act of self-dealing under section 4941(d)(1)(A). The Service also ruled that the withdrawal of any interests or assets in those partnerships will also not be an act of self-dealing.  MORE »

For those familiar with Steve Leimberg, you know he produces some of the very best thinking in the fields of estate, financial, employee benefits, retirement and charitable gift planning. As you will see, the team of authors and commentators he has assembled are among the very brightest minds in practice today. Steve has agreed to share with our readers, from time to time, some of the more important commentaries from Leimberg Information Services pertaining to charitable planning and taxation.  MORE »

At its meeting on May 5, 2004 in Orlando, immediately prior to the ACGA conference, the ACGA board approved the recommendation of the Gift Annuity Rates Committee to continue the current gift annuity rates for another year. Unless unforeseen circumstances should necessitate an interim adjustment, the rates that became effective on July 1, 2003 will remain in effect at least through June 30, 2005.  MORE »

Given all the attention by the Courts and Congress regarding the valuation of charitable contributions of art, instruments, and autos, PGDC Editorial Board member Vaughn W. Henry discusses the estate of artist Georgia O'Keeffe and its application of "blockage discount" to the valuation of the estate's collection.  MORE »