Leaving your assets to charity after death

I am meeting with a client to sign her trust and other California estate planning documents later today. She has no close relatives so instead is leaving her estate to about 10 different non-profit organizations. Medical research, animals, and educational institutions for this woman. She has a connection to each organization and she is genuinely excited about choosing the charities to receive her estate. On the other hand when she spoke of her family she spoke with disdain. Why leave them anything she asked me!? “They don’t even come to visit me!?” I didn’t try to argue with her but instead just listened. I was happy to write her will and trust to match her charitable wishes and am excited to help her sign the documents. Plus, having no close family she wants me involved after her
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Charitable Remainder Trusts

This is an article written about 10 years ago but the principles remain the same.  Let’s chat about a more updated version of CRUTs and CRATs and how they apply to YOUR estate plan!  -John


Is it possible for you to get a current income tax deduction, avoid the capitals gain tax on the transfer of highly appreciated undeveloped land, increase your cash flow, lower your estate taxes, leave your progeny with more money, and provide a lasting legacy to a deserving charity?     Since Congress introduced the “life income contract” in 1969, all this is possible.  The only change of any significance since 1969 is the name, it is now called the “charitable remainder trust (or CRT).” At one time CRTs were thought to be just for th
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Steve Jobs Estate Plan

I pulled this snip-it off of regarding Steve Jobs’ death: “JOBS’ ESTATE: CONFIDENTIAL? Jobs, in his trademark uniform of black mock-turtleneck and blue jeans, was deemed the heart and soul of a company that rivals Exxon Mobil as the most valuable in America.  With an estimated net worth of $7 billion — including a 7 percent stake in Walt Disney Co — it was not known how Jobs’ estate would be handled.  The entrepreneur had sometimes been criticized for not wielding his enormous influence and wealth for philanthropy like Warren Buffett and Bill Gates. His death revived speculation that some of his estate might be donated to cancer research groups or hospitals.  California law requires a will to be filed in probate court within 30 days of death.  Job
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Sacramento Charitable Giving

I had the pleasure of going to a presentation yesterday as part of the Sacramento Region Community Foundation’s Philanthropic Advisor’s Forum. It’s a group of other professionals (estate planning attorneys, CPAs, financial planners, etc…) who deal with clients who give to charities.  One speaker, Scott Hanson (from Hanson McClain Advisors), spoke about this new project that kicks off today. It’s called Give Local Now.  There will be billboards, TV ads, radio spots, print ads, etc… about this and all aimed at getting people to keep their charitable donations LOCAL in the Sacramento, Placer, Yolo and El Dorado counties area.  We saw some of the advertisements and they are first class productions! The gist of it is that Sacramento, on average, gives less money than the rest of
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