Tax implications for a binding pledge?

Tax implications for a binding pledge?

Forum topic posted in Forum on 28 September 2016| comments
audience: | last updated: 28 September 2016
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Hello all,

We are in conversations with two donors (a married couple) about making a $250,000 binding pledge over the course of 5 years. Their tax advisor recommended against that and said that a binding pledge could have major tax implications for the wife, if for some reason the husband passed away during the course of the 5 years. It is hard to know why this would be, especially not knowing specifics on their assets. I do know that most of their assets are in real estate and business and they do have joint ownership of all properties (I can’t remember if its joint or communal). Any ideas what these so called ‘tax implications’ could be? 

Thanks,

Sharon Rabichow

Director of Gift Planning

Save the Redwoods League

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