Annapolis, Maryland Wills, Trusts & Estate Planning

How to Make Your Charitable Giving Have a Greater Impact - Annapolis Estate Planning

Most donations are made in December, and charities of all shapes and sizes make the most of the holiday spirit. However, by taking a bit of time to plan out charitable giving, including doing some research and talking with your family about your legacy, your giving could have a greater impact this year and in years to come.

A rough ride in the start of the year’s markets and changes to the tax laws have left many donors wondering if they can afford to be as generous in 2019 as they were in the past. Fundraisers advise donors to think more about what non-profits have greater meaning to them and to take a more thoughtful approach to giving. Philanthropy is still good for your legacy, sense of community and, when done right, taxes.

The Reno Gazette Journal’s article, “Get an early jump on charitable giving” looks at tax planning opportunities for charitable giving, specifically in light of the Tax Cuts and Jobs Act and Qualified Charitable Distributions (QCD). Here’s a review of why people give. The primary reasons for donating include the following:

• Personal experience;
• Being proactive in solving a problem;
• Taking a stand on an issue;
• Personal recognition;
• It’s a good thing to do; and
• Making a difference.

The true effect of the new tax laws won’t be known, until after the country’s tax returns are filed in April. Some–such as Giving USA–think that charitable giving will decrease, but others contend that high-income taxpayers will be motivated to donate more.

It’s now more difficult for individuals to hit the threshold required to qualify for the deduction. Taxpayers can either take the standard deduction or itemize their deductions. The standard deduction has doubled. Deductions for state and local taxes are capped at $10,000, and mortgage interest may be limited. The Council on Foundations estimates 5 to 12% fewer Americans will itemize. So if you can only take the standard deduction, think about “lumping” contributions into every two or three years to itemize deductions for that year.

QCDs are direct transfers from IRAs to eligible charities. For this to happen, the IRA account holder must be 70½ or older. The benefits of the QCD include:

• The distribution goes directly to charity from the IRA;
• It's not includible in your income; and
• It counts towards satisfying your required minimum distribution (RMD).

Note that QCDs can come only from IRAs and not from employer-sponsored plans (SEP, SIMPLE and 401(k)). However, you might be able to roll those employer plans to IRAs to be eligible for QCDs.

If you qualify for itemized deductions, the QCD is still better for you because it reduces your AGI, which is more favorable than a charitable deduction which reduces taxable income. You should also remember that donor-advised funds and private family foundations are excluded.

Speak with your estate planning attorney to find the best solution for your charitable giving. They’ll be able to guide you to making your donations work for you and for your charity of choice.

Reference: Reno Gazette Journal (January 9, 2019) “Get an early jump on charitable giving”

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Can You Make Charitable Donations from Retirement Accounts Without Triggering Taxes? - Annapolis Estate Planning

If you roll the money over to an IRA first, you can donate funds from your 401(k) Required Minimum Distribution tax free. Be very careful to follow the rules, so that you don’t create a tax or penalty problem.

First, let’s define the RMD (Required Minimum Distributions). This is the least amount of money that someone who owns a retirement plan is required to withdraw every year, starting the year that the individual turns 70½, or, if they retire later, the year when they retire.

 However, if the retirement plan account is an IRA or the account owner is a 5% owner of the business sponsoring the retirement plan, the RMDs have to start once the account holder is age 70 ½—even if she’s not retired. The rules of what can and cannot be done with retirement plans are very strict, so you may need help from a professional.

A recent Kiplinger article, “Making Charitable Donations From Your Retirement Accounts,” explains that retirement plan participants and IRA owners—including owners of SEP IRAs and SIMPLE IRAs—must take the correct amount of RMDs on time every year from their accounts, or face big penalties.

What about when a plan owner dies? What are the rules for distributions to their beneficiaries? There are different RMD rules that apply. The entire amount of the owner’s benefit usually must be distributed to the beneficiary who is an individual either:

1. Within five years of the owner’s death; or
2. Over the life of the beneficiary, starting no later than one year following the owner’s death.

Roth IRAs don’t require withdrawals, until after the owner’s death. The tax-free transfer of an RMD to charity only applies to IRAs. However, there’s a way to give money from your 401(k) to charity tax-free: you need to roll over money from your 401(k) to an IRA and then donate it to the charity.

To do this, you’d have to take your RMD from the 401(k) for this year before you can do the rollover. You can then roll over 401(k) dollars to the IRA for future charitable transfers. If you do this by the end of the year, you'll be able to begin moving some of the money to charity in 2018,  which may fulfill some or all of the RMD from your IRA.

If you are 70½ and older and charitably inclined, you are permitted to donate up to $100,000 of your IRA to a charity. There are some real benefits to doing this. First, the contribution counts towards your RMD, but it’s not included in your adjusted gross income. That might make you eligible for tax breaks that are tied to your AGI, and, depending on your situation, could reduce or even eliminate tax on your Social Security benefits. Check with an experienced estate planning attorney to make sure that this aligns with your estate and tax plan.

Reference: Kiplinger (September 22, 2017) “Making Charitable Donations From Your Retirement Accounts”

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Holden & Campbell - Annapolis Estate Planning Attorneys

Six Tips For Cutting Taxes In Retirement - Annapolis Estate Planning

A lot of things change in retirement, and your taxes are one of them. But they don't have to be so painful.

There are a lot of variables in play when it comes to budgeting for retirement, to include ever lengthening life-spans and ever increasing medical bills. No one said it would be easy. One variable you will not want to ignore is taxes and how they will affect you.

For some advice on how to make the finances last, and how to preserve wealth both for yourself and your heirs, be sure to read a recent article in Morningstar titled “6 Ways to Curb Taxes in Retirement.”

The six ways? Roughly:

Tip 1: Diversify Your Assets by Tax Treatment

Tip 2: Consider a Roth Conversion--Even in Retirement

Tip 3: Get Savvy With RMDs

Tip 4: Mind State Taxes, Too

Tip 5: Bundle and Time Your Deductions

Tip 6: Avoid the 'Tax Torpedo' [i.e. Social Security tax payments]

After you have read the original article, consider your own finances, or those of your elderly loved ones. Retirement is an important stage in life and one requiring careful financial planning so you do not outlive your money. Taxes are a major threat to your retirement financial security.

How do your end-of-life finances coordinate with your plans for your estate? That is the next question, of course.

Reference: Morningstar (March 1, 2014) “6 Ways to Curb Taxes in Retirement”

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What Will Become Of The IRA Charity Rollover? - Annapolis Estate Planning

You were so helpful to me in September, clarifying the IRA charitable contribution. Do you know if the government is instituting that same contribution this year?

We are well into tax season and planning for the upcoming year. Are you keeping up with the tax laws? As many retirees and their advisors review changes in the tax laws and begin their planning, they have one important question in common: “Will Congress revive the IRA charity rollover?”

Coincidentally, these taxpayers and advisors will be interested in a recent article in The Wall Street Journal titled “Will Congress Revive the IRA Charity Rollover?”

Why all the buzz? The IRA charity rollover is a well-loved tool that creates a win-win for retired taxpayers and the charities they support. Unfortunately, it has never been a permanent part of the tax code and was just one those many provisions of the tax code that bit the dust at the end of last year.

What is an IRA charity rollover? It allows a taxpayer who is already required to take “Required Minimum Distributions” to direct their required distribution directly into the hands of charity. As a result, the taxpayer pays no income taxes on the distribution and the charity enjoys 100% of the distribution tax-free. What is not to like about that?

With the IRA charity rollover gone, retirees and their advisors now have to shift their priorities and tools to minimize the tax bite and still accomplish all of their financial goals.

Alternatively, you take the author’s lead and try waiting to see if Congress reinstates this beloved option.

Will Congress revive the IRA charity rollover? That is the question.

Reference: The Wall Street Journal (January 25, 2014) “Will Congress Revive the IRA Charity Rollover?”

Holden & Campbell, LLC - Annapolis, Maryland Estate Planning Attorneys

Buffett's Lessons On Charitable Giving - Annapolis Estate Planning

In the end, you can think of the RISE system as a basic question: Is this organization built to get the job done? And, will it help you get your job of doing some good in the world done right?

Giving to a good cause can have a substantial impact on the need at hand, but where do you start? There are so many needs to be met, choosing a charity can be more challenging than you may think. Fortunately, the “Oracle of Omaha” has some words of wisdom when it comes to focusing and leveraging your charitable influence.

Actually, Buffett’s counsel is really a framework of thought - the “RISE Framework for Social Change.”

Forbes recently explored the RISE framework in an article titled “4 Charitable Giving Tips From Warren Buffett.” Originally developed by one of the lecturers with Buffett’s free online giving course “Giving With Purpose,” RISE is an acronym to help center your thoughts and guide you toward good decisions when seeing to do good, specifically:

• Relevance – Clarify what motivates you.
• Impact – What is your “portfolio” (the collection of all your donations) and “toolkit” (the various ways you can contribute including with your money)?
• Sustainability – Is the charity likely to stay around with its “business model”?
• Excellence (in management and operations) – Is the organization well-run from top to bottom?

If you would like to learn more about the RISE framework, then read the original article and consider enrolling in Buffett’s online course in the future. After all, the course is free and he seems to have a pretty good track record when it comes to his financial abilities.

Reference: Forbes (September 6, 2013) “4 Charitable Giving Tips From Warren Buffett”

                Holden & Campbell, LLC - Annapolis, Maryland Estate Planning Attorneys

2013 Capital Gains Tax: Beware Of The Bite - Annapolis Estate Planning

Check out these strategies to bypass capital gains altogether or at least lessen the bite.

Unless you've been paying close attention to capital gains and your expected 2013 tax, then you may not realize a potentially large "bite" until tax season. For those in the know, however, there is still time to beat the capital gains tax in 2013 and beyond.

For some ideas to consider before it is too late, take a look at a recent Forbes article titled “How To Beat The Big 2013 Capital Gains Tax Hike.”

The Great Capital Gains Tax Hike of 2013 was essentially the double-pronged effect of the eclipse of certain tax cuts mixed with a brand new surtax. More specifically, the gains tax was allowed to bounce from 15% to 20%, and Obamacare added to the pain with a new 3.8% surtax to high earners. If you are doing the math, then that equates to a new rate of 23.8% for many (a near 60% increase from the year then ended).

So how do you beat it?

Here are 11 strategies to consider, according to Forbes:

1. Invest in your primary residence.
2. Manage your tax bracket.
3. Harvest losses.
4. Gifts to family members.
5. Gifts to charity.
6. Feed retirement accounts.
7. Open a 529 college savings account.
8. Buy and hold.
9. Move to a tax-friendlier state.

10.  1030 exchanges.

11.  Charitable trusts.

Each of these strategies has merit.

Nevertheless, the key is to evaluate them (and others) with your professional advisors in the context of your medium and short-term financial and estate planning goals.

The tax “tail” should never automatically control the planning “dog.”

Reference: Forbes (September 13, 2013) “How To Beat The Big 2013 Capital Gains Tax Hike”

                    Holden & Campbell, LLC - Annapolis, Maryland Estate Planning Attorneys

Annapolis Estate Planning: Can You Transfer IRA Funds to Charity?

Tax-free transfers are limited to those over age 70½ mainly to contain the drain on the federal budget.

One thing you should never forget about your IRA – even though you make contributions with pre-tax dollars, and once inside these accounts your money grows tax-free, the government is counting on getting their share of tax revenue from you at some point. Which is why only those over age 70-1/2 are eligible to make tax-free transfers (of no more than $100,000) from IRA funds directly to charity. By limiting eligibility and capping the transfer amount, the government limits their exposure to lost revenue.

So, why might you want to utilize this IRA-to-Charity strategy? A Charitable IRA Rollover lets you give to your favorite charity while avoiding taxes on IRA distributions. Consequently, this is a very popular win-win strategy for taxpayers who have accumulated a lot of money in their IRAs, but don’t need the money to live one – and would rather be “voluntary philanthropists” as opposed to “involuntary philanthropists.”

A recent Kiplinger article titled “Who Can Transfer IRA Funds to Charity?” explains the ins and outs of Charitable IRA Rollovers. If you think this strategy would be appropriate for you, beware. There are strict rules governing the proper execution of these transfers, as well as their ultimate tax-treatment.

While Congress generally approves the use of this strategy on a year-by-year basis, the good news is that they already approved it for this year. This means you should have plenty of time to plan if you’d like to make a charitable transfer this year.

Reference: Kiplinger (April 30, 2013) “Who Can Transfer IRA Funds to Charity?”

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Annapolis Estate Planning: There is Still Time to Make Your IRA Gift to Charity

Unless an IRA is a Roth, the account owner must take yearly minimum required distributions starting at age 70½ and pay tax on the withdrawals. With the charitable IRA rollover, as it is called, the donation can count against the minimum required distribution they would otherwise be required to take.

The fiscal cliff deal includes a special gifting opportunity for seniors. Those who are past age 70-1/2 must take required minimum distributions (RMDs) from traditional IRAs, and must pay income taxes on those distributions (this does not apply to Roth IRAs). What seniors may not know is the American Taxpayer Relief Act (commonly referred to as the Fiscal Cliff Deal) allows you to avoid income taxes by directing those RMDs to a qualified charity with an IRA Charitable Rollover. The rule applies for 2013, and includes a small window of opportunity for 2012 donations as well.

We have had this deal before, but Congress let it expire at the end of 2011. So, it’s likely that most people already took their 2012 RMDs, as required by law, before December 31^st. If you didn’t, though, Congress has given you until January 31^st, 2013 to make a charitable contribution that can satisfy all or part of your RMD for 2012. Confused? You may want to read more about it in the Forbes article, “Fiscal Cliff Deal Allows Giving IRA Assets to Charity.”

If this giving strategy sounds appealing to you, bear a few things in mind:

• To qualify, your donations must be directed from your IRA to the charity, and cannot be distributed to you first. Ask the account custodian to send the distribution directly to the charity.
• Your donations cannot go to donor-advised funds, supporting organizations or private
  non-operating foundations. Otherwise, the money can go to any organization to
  which you can make a gift that would qualify as a charitable deduction on your
  tax return.

Consult with your estate attorney if you have further questions about the gifting opportunities you may have with your IRA for 2012 …just don’t wait too long, you only have until January 31^st!

Reference: Forbes (January 2, 2013), “Fiscal Cliff Deal Allows Giving IRA Assets To Charity.”

Holden Campbell, LLC - Annapolis Estate Planning Attorneys

Annapolis Estate Planning: Overview of Estate and Gift Tax Laws after Fiscal Cliff Legislation

The American Taxpayer Relief Act of 2012 (generally referred to as the “2012 Taxpayer Relief Act”),
was signed into law by the President on Jan. 2, 2013.  The 2012 Taxpayer Relief Act prevents many of
the tax hikes that were scheduled to go into effect in 2013 and retains many favorable tax breaks that were scheduled to expire. 

A detailed review of all of the changes in the tax rules is beyond the scope of this letter.  What follows is: 1) a review of the new rules that generally relate to estate planning, 2) a review of some of the other fundamental tax planning rules that continue to apply to estates, and 3) some
commentary on how these rules may impact your estate planning. 

  For those who want the “short version”, most of the specific provisions in the new law that are reviewed in this letter are in bold-italics.    

First, for the first time in over 10 years, the estate, gift and generation skipping tax laws are not scheduled to expire in the future.  We can finally have some certainty about the tax laws that will apply to estates.  This will allow us to analyze and project with more certainty, the impact of estate taxes on each client’s estate. 

The Federal Estate Tax Exemption. The new estate tax law provides for an inflation adjusted estate tax exemption.  In 2012, the per-person estate tax exemption was %5.12 million.  It is anicipated that the inflation adjusted estate tax exemption for 2013 is $5.25 million. 

The federal generation skipping tax is a tax on transfers to grandchildren and more remote descendants.  The generation skipping tax is also estimated to be $5.25 million in 2013, and adjusted for inflation in the future.   

Portability.  In 2010, the concept of estate tax exemption portability was introduced into the tax law, and the new law has made portability permanent.  Portability permits the surviving spouse to utilize the remaining unused estate tax exemption of the deceased spouse.  Assuming a $5.25 million per-person federal estate tax exemption, this means a married couple can transfer up to $10.5 million free of federal estate tax.  However, portability is not automatic. The Personal Representative handling the estate of the spouse who died will need to transfer the unused exemption to the surviving spouse by filing a timely filed estate tax return when the first spouse dies, even if no tax is owed.  This return is due nine months after death with a six-month extension allowed. If the Personal Representative doesn’t file the return or misses the deadline, the opportunity to use portability is lost. 

 Portability is a powerful tool for married couples and provides significant flexibility to help reduce or eliminate federal estate taxes. Portability is an element of a thoughtful plan; it is not a justification to ignore thoughtful planning with respect to estate taxes.  Allow me to offer some brief examples.   First, as mentioned above, portability must be activated by filing a timely filed estate tax return.  Those who fail to plan and identify where portability will be utilized will be at risk of never being aware of the necessity to file the tax return.  Second, the Maryland estate tax and the federal generation skipping tax do not permit portability of the deceased spouse’s exemptions from those taxes.  In order to plan to reduce these taxes, planning techniques other than portability must be utilized.

 One area where portability provides an excellent planning opportunity is for married couples who have a significant portion of their assets in retirement accounts, such as IRAs and 401Ks.  For married couples in such circumstance, they were previously forced to decide between designating a
By-Pass Trust[1] as the primary beneficiary of the accounts, and designating the surviving spouse
as the primary beneficiary.  The analysis for this decision is rather complex, and forces couples to choose between reducing estates and deferring income taxes on the retirement accounts.  The details of this analysis are beyond the scope of this letter.  However, under the new portability rules, a married couple is no longer forced to choose between estate tax savings and income tax deferral on retirement accounts.  Under the portability rules, by designating the surviving spouse as the primary beneficiary of the retirement accounts and filing an estate tax return upon the death of the first spouse to utilize portability, a married couple may reduce estate taxes and also plan to defer income taxes on retirement accounts for their descendants. 

 Married couples should consider how to use portability when designing their estate planning.  In addition, the Personal Representative of every married decedent should carefully consider whether an estate tax return should be filed to transfer the estate tax exemption of the deceased spouse to
the surviving spouse. 

 Gift Taxes.  The lifetime federal gift tax exemption is the same as the federal estate tax exemption, estimated to be $5.25 million in 2013.  The federal estate and gift taxes are unified”.  This means as a donor makes gifts during his or her lifetime, the donor’s gift and estate tax exemption will be reduced.  Once the total lifetime gifts exceed the lifetime gift tax exemption, the donor will be required to pay gift taxes on such gifts.  For example, if a donor gives $1 million to his son in 2013, the donor’s gift tax exemption and estate tax exemption will be reduced by the amount of the $1 million gift.  The IRS keeps track of one’s lifetime gifting by requiring the filing of federal gift tax returns.  Each time a taxpayer makes a gift, he or she must file a federal gift tax return by April 15 of the year following gift.  The gift tax return serves to report the value of the gift and track the  emaining estate and gift tax exemption.

 Gift Tax Rule Exceptions. There are a number of exceptions to the requirement of filing a federal gift tax return.  For example:

In 2013, each donor may gift up to $14,000 per donee without the requirement of filing a gift tax return or reducing the lifetime gift or estate tax exemption. 

• Gifts to one’s spouse, of any amount, do not require a gift tax return or reduction of the lifetime gift or estate tax exemption. 
•  Certain gifts paid on behalf of the donee for the medical expenses of the donee and gifts for the tuition expenses made directly to a qualified educational organization do not require a gift tax return or reduction of the lifetime gift or estate tax exemption. 
•  Gifts to qualified charities do not require a gift tax return or reduction of the lifetime gift or estate tax exemption. 

 The rules relating to qualifying for an exception from gift taxes can sometimes be more complicated than as described above.  It is advisable to seek counsel with respect to qualifying gifts for an exception from the gift tax. 

 The Estate and Gift Tax Rate.  The new tax rate applicable to federal estate, gift and  generation skipping taxes is 40%.  This reflects an increase from the 35% rate applicable in 2012.   

The Maryland Estate Tax.  The Maryland estate tax rules are unchanged from 2012.  The Maryland estate tax applies to Maryland residents and to persons who die owning real property in Maryland.  Estates valued less than $1 million continue to be exempt from the Maryland estate tax.  The tax rate on estates that are greater than $1 million but less than $1.3 million is initially 16%.  The marginal Maryland estate tax rates decrease as the value of the estate increases.  Portability does not apply to
the Maryland estate tax.  There is no g ft tax under Maryland law, and lifetime gifts do not reduce the Maryland estate tax exemption.

 Tax Free IRA Distributions to Charity.  The IRA distribution rules allow for the tax-free  treatment of distributions from IRAs where the distributions are donated to charity.  Specifically, a taxpayer who has attained the age of 701/2 may exclude from gross income so much of the aggregate amount of his “qualified charitable distributions” not exceeding $100,000 in a tax year.  In order to qualify under this special rule, the charitable contribution must be made directly from the IRA Trustee to the qualified charity.  Further, an IRA owner who makes an IRA qualified charitable distribution in an amount equal to his Required Minimum Distributions for the tax year is considered to have satisfied his minimum distribution requirement for that year, even though a charitable entity
(and not the IRA owner) is the recipient of the distribution.  This rule only applies to IRA distributions
made before January 1, 2014.

 Capital gains and qualified dividends rates. Beginning in 2013, the long-term capital gains and qualified dividends rate will be 0% if income falls below the 25% tax bracket; 15% if income falls at or above the 25% tax bracket but below the new 39.6% rate; and 20% if income falls in the 39.6% tax bracket.

 It should be noted that the 20% top rate does not include the new 3.8% surtax on investment-type income and gains for tax years beginning after 2012, which applies on investment income above
$200,000 (single) and $250,000 (joint filers) in adjusted gross income. So actually, the top rate for capital gains and dividends beginning in 2013 will be 23.8% if income falls in the 39.6% tax bracket. For lower income levels, the tax will be 0%, 15%, or 18.8%.

What action should you take?  The good news is that the estate and gift tax exemptions have not been reduced, as was widely  anticipated.  As a result, for many people, changes to their estate
planning documents may not be necessary. For families with combined estates valued at less than $1 million, it is unlikely that these tax law changes require changes to your planning documents.  For others, changes to one’s estate planning documents are not as urgent as would have otherwise been.

 It will be necessary to continue to use the By-Pass Trust to reduce the Maryland estate tax for a married couple.  However, some married couples may amend their planning documents to limit the amount of property transferred to the By-Pass Trust upon the death of the first spouse. So changes will be based on the decision to plan to rely on portability (rather than the By-Pass Trust) to eliminate federal estate taxes.  Although the By-Pass Trust may no longer be necessary to reduce the federal estate tax, the By-Pass Trust provides other benefits that should be considered before increasing reliance on portability.  For example, assets in a By-Pass Trust are not subject to probate upon the death of the surviving spouse, and the By-Pass Trust provides better asset protection than outright
ownership by the surviving spouse.  The By-Pass Trust may also be the preferred method for asset management during the incapacity of the surviving spouse.  Finally, for those families planning to preserve their assets for grandchildren and future generations, the By-Pass Trust is likely preferable to relying on portability when planning for the generation skipping tax. 

 As is always the case with estate planning, there is no one answer that will apply to all.  If you would like to meet to consider how the new law will impact your estate plan, please feel free to call my office to schedule a meeting.  It will be important that you bring a current list of your assets to that meeting.  You may ask my office to send you an Asset Summary, or you may download an Asset Summary Form by clicking on “Becoming a Client” at our website; www.HoldenCampbell.com. 

 We hope you find this helpful and we wish you a healthy and happy 2013. 

 

                        Holden & Campbell, LLC  Annapolis Estate Planing Attorneys

 

 

 

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[1]
By-Pass Trust – also known as a Family Trust, Residuary Trust or Credit Shelter
Trust, is a trust included in estate planning documents and funded at the death
of the first spouse to die to utilize the remaining estate tax exemption of the
first spouse to die and ultimately reduce estate taxes upon the death of the
surviving spouse.

Annapolis Estate Planning: Philanthropists Share Giving Wisdom on the Web

Eli Broad applies three key questions to the “philanthropic investments” he makes:  “Would it happen anyway? If it’s going to happen anyway, we don’t make the investment,” he says in a video clip. “Two, will it make a difference 20 or 30 years from now? And lastly, is talent leadership there that can really make it happen?  … If the answer to any one of those is no, we don’t do it.”

The holidays are here, and ‘tis the season of giving. Although you may feel motivated to give a donation, it can sometimes be difficult finding a foundation you feel comfortable supporting.
You need to trust that your donations are making a difference and going to the right cause.

When in doubt, turn to professionals for advice, right? In this case, who better to consult than the
great philanthropists of our day.

Fortunately, you don’t have to try to guess, assume, or attempt psychoanalysis from afar to get sage advice from big philanthropists and donors. No, as trumpeted by the Chronicle of Philanthropy (see “The Giveaway”) and other sources, there is an interesting new resource available to all in a new website called GiveSmart. In essence, this website lets the philanthropists speak on whatever topics they wish and give their own advice on giving.

If you’re interested in charitable giving and are trying to decide how to go about doing it, consider
consulting some of these important philanthropic voices to motivate you.

Reference: The Chronicle of Philanthropy (November 27, 2012) “The Giveaway” GiveSmart - GiveSmart.com

Holden Campbell, LLC - Annapolis Estate Planning Attorneys