The National Heritage Foundation has issued a press release in which it responds to a recent $9 million adverse jury award in a case involving a charitable split dollar plan and announces its plans to appeal the verdict.  MORE »

The McAllen, Texas law firm of Garcia & Martinez has issued a press release announcing a $9 million jury verdict against the National Heritage Foundation in the 404th District Court, Cameron County (Brownsville), Texas. According to the release, National Heritage Foundation changed the beneficiaries of three multi-million charitable split dollar life insurance policies from the donors' children to itself without the donors' knowledge or approval.  MORE »

PGDC reported on Martin v. Ohio State University Foundation earlier this year, which stated in part that the Foundation settled with the plaintiffs. Subsequently, PGDC requested a copy of the confidential settlement agreement under Ohio law and is now providing the relevant details of the settlement.   MORE »

A New York appellate court, in two separate cases on the same day, upheld the lower court's finding that the trustee of a testamentary charitable lead annuity trust and the trustee of a testamentary non-charitable trust were each negligent for failing to diversify the stock used to fund their respective trusts.   MORE »

An Ohio appeals court remanded to a lower court for trial the issue of whether an insurance agent/financial and estate planner and an insurance company committed fraud in rendering advice surrounding the creation of a charitable remainder unitrust and the purchase of an insurance policy.   MORE »