What is Philanthropy?

As a legal entity, a private foundation has corporate and tax filings to maintain on a regular basis and myriad administrative tasks that go with any corporate endeavor. The overhead costs alone are typically too expensive and time-consuming for most of us, as individuals or as families, to establish such a philanthropic structure. You want your giving to achieve the most bang for the buck.

NEW GIFT TAX BREAK

Having a net worth of $1 million, or maybe even $2 million, does not give you entry into such a small exceptional group as used to be the case.  By some estimates, between 5 and 6 million American households have a net worth of at least $2 million.  This means that currently there are considerably …

What About the Kids?

We all procrastinate. However, when it comes to estate planning, and particularly drafting a Will, it seems to get worse. Many couples think they are too young to need a Will or any kind of estate planning. But, as I have discussed in earlier columns and as was driven home to me this past week when a good friend and client was tragically killed, no one is too young to consider some estate planning.