NAEPC Webinar: Income Tax Deductions for Charitable Bequests of IRD
Thank you to this month's webinar host: Gresham Savage Nolan & Tilden, PC. ***Please note office location has been updated to 550 E. Hospitality Lane, Ste. 300, San Bernardino.***
The Estate Planning Council of Riverside County has received a full year subscription to the monthly Webinars provided through NAEPC (with credit) for the remainder of the year as part of our Council of Excellence Recognition.
ABOUT THE WEBINAR
Since income in respect of a decedent (“IRD”) can be taxed twice (once on an estate’s estate tax return and again on the estate’s income tax return), it is possible for a single charitable bequest of IRD to produce charitable tax deductions on both returns. However, many estates and trusts that received IRD and also made charitable bequests were not able to claim a charitable income tax deduction. This intermediate program explains the problem and describes the best ways to structure a charitable bequest of retirement plan and other IRD assets (savings bonds, employee stock options, etc.) to secure an offsetting charitable income tax deduction.
ABOUT THE SPEAKER
Christopher Hoyt is a Professor of Law at the University of Missouri (Kansas City) School of Law where he teaches courses in the area of federal income taxation and charitable organizations. He has served as the Chair of the American Bar Association's Committee on Charitable Organizations (Section of Trusts and Estates) and he serves on the editorial board of Trusts and Estates magazine. He is an ACTEC fellow, has been designated by his peers as a "Best Lawyer", and was elected to the NAEPC Estate Planning Hall of Fame.
