David T. Leibell and Daniel L. Daniels, partners in the Stamford, Conn. office of Cummings & Lockwood LLC, report that a recently released Technical Advice Memorandum (TAM) provides a lovely roadmap on how not to administer a charitable remainder...
Real estate has been the fastest appreciating investment for many people during the past several years. With interest rates rising, however, recently there has been a softening of the real estate market in many parts of the country. Some...
There are many strategies that a professional advisor can use to help clients exit from planned gifts. All require a clear understanding of the partial interest rule. PARTIAL INTEREST The general rule is that a gift of a partial interest is not...
David T. Leibell and Daniel L. Daniels of Cummings & Lockwood in Stamford, Conn., take a closer look at the Pension Protection Act's provisions on charitable giving and warn that the PPA signed into law by President Bush on Aug. 18, includes...
From David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., we have this update: The Internal Revenue Service has ruled that a charitable remainder trust's investment in a private equity fund did not...
David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report: IRS issues series of rulings ultimately approving CRT termination in unusual circumstances. Did you ever have to make up your mind? Although...
David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report: The Internal Revenue Service has approved another venture philanthropy strategy this one for establishing a new business and pre-seed capital...
Many tax and estate-planning professionals are aware of the basic tax rules governing deductions for charitable contributions. They know the general distinctions between the limits on income tax deductions for contributions to private foundations...
From David T. Leibell and Daniel L. Daniels, partners of Cummings & Lockwood LLC in Stamford, Conn., we have this update: IRS approves private foundation's venture philanthropy strategy for assisting minority-controlled businesses. The IRS...
Most grant-making foundations in the United States operate on very modest budgets, are largely unstaffed and are run by unpaid trustees. But that's where their similarities end. A fierce, slow-motion debate has been raging about how much is...