Tag: Charitable Giving
It turns out that trusts can behave just like people. Trusts are very similar to individuals in that they pay taxes and can donate to charity. A recent court case contains a warning as Wealth Management discusses in “Tax Court Disallows Trust’s Charitable Deduction for Want of Charitable Intent.” For years the trust in question […]
One generally donates to a charitable organization but you can also help individuals. But be wary of rules if you are planning a deduction. If you want to donate to specific individuals rather than an established charity then you have to follow the rules if you plan on tax deductions, according to Wills, Trusts & […]
New Hampshire librarian leaves millions to university. Generally speaking, librarians don’t leave a lot of assets behind when they pass away yet they sometimes do as My Central Oregon reports in “Librarian Quietly Saved $4 Million, Left it to School Where He Worked.” Robert Morin read a lot of books even to the point of […]
A third law suit has been filed against the Legion of Christ, a disgraced Catholic order, in passing of Rhode Island woman. When Gabrielle Mee, a wealthy resident of Rhode Island and a devout Catholic, passed away in 2008 she wanted to leave some of her estate to support Catholic causes but problems have arisen, […]
Man’s love for model automobiles is passed on to church. While it is not unusual for a church to be remembered in a parishioner’s will in the form of money or securities, it is unusual for a church to receive a house full of valuable model cars. But Minnesota resident Dennis Erickson did just that […]
An elderly woman decided to handle the issue of heirs by sending a clear message with shredded money and accounts. An 85-year-old nursing home resident decided to send a loud and clear message to her heirs when 950,000 Euros and saving accounts books were found in tiny pieces on her bed when she died. It […]
With a $350,000 grant, The Stanley and Elaine Ball Charitable Foundation has made it possible for the Taneyhills Library to renovate the children’s area and create a technology conference room that would have otherwise been impossible for the all-volunteer library to build. The hope is that the new features will draw new users to the […]
With the holiday season on the horizon, the end of year financial season has arrived. It’s time to deal with money issues relating to income tax planning, charitable giving and scams and the annual check up on family finances. There is not too much in the way of tax drama in the final weeks of […]
There are tax breaks to be had while you are living and those that can benefit your heirs after you have passed. Knowing which ones work at what time is key to help mitigate tax liability. While you are living, giving appreciated assets held in a taxable account is a good way to go. When […]
Bill Wurst, a 1959 alumnus in electrical engineering left $4 million to the MSU College of Engineering as a gift from his estate. The gift was designated for the greatest needs of the college, giving the family and the college the flexibility to apply it where it would do the most good. Wurst had spoken […]
