Increasingly planners are including charities as potential beneficiaries of both old and new family trusts. Making distributions to charities from these trusts can help manage income taxation, correct for overly successful trust planning, and provide alternative vehicles for family philanthropy. However, continued IRS hostility to the 642(c) deduction, as well as recent changes in tax law, may cause unexpected headaches for trustees and beneficiaries. The speakers will discuss possibilities and pitfalls in utilizing the 642(c) deduction, as well as alternatives for trustees and beneficiaries looking for options to allow their trusts to have impact beyond family wealth.
CLE, CFP, CIMA®, CPWA®, CIMC®, RMA®, and AEP® CE Credits have been applied for and are pending approval.
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