Understand ways in which to work with a donor and a charity to meet the goals of each entity.
Whether you are representing a donor or a charity in your planning, deferred giving is an important tool in both charitable gifting and personal estate planning. In many cases, using life insurance can bring about a personal benefit as well as a benefit to a charity, and knowing the various alternatives and the issues involved with each is critically important in such planning. Knowing the objectives of each in the planning process is important and this topic helps those involved in estate and charitable planning attain those objectives. Many persons engage in charitable planning without realizing the benefits of utilizing existing or newly purchased policies in a way that can save taxes, increase a donor's cash flow or investments for the donor's family. You will be provided the tools for a planner to achieve goals in ways not previously utilized.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Discussions Regarding Charitable Planning With Life Insurance
- Determine Motivation - Client's or Charity's
- Review Existing Policies and Obtain "in Force" Ledgers
- Review Client's Estate and Income Tax Situation
Advantages of Charitable Planning With Life Insurance
- Definite Values
- This Is a Leveraged Gift
- Not Subject to Local Charitable Gift Restrictions or Possible Probate Issues
- Annual Gifting Can Be Converted Into Substantial Gift
Simple Method - Beneficiary Designation
- Advantages
- Disadvantages
Transfer Existing Policy
- Types of Policies
- Tax Consequences
- Revocable or Irrevocable Designation?
- Personal Benefit Contract Issues
- Insurable Interest Issues
Purchase of Policy by Charity
- Insurable Interest Issues
- Commitment for Future Premium Payments
Variations on the Theme
- Second to Die Policies
- Rider Beneficiary
- Charitable Remainder and Lead Trusts
- Using Insurance in Ilit to Gift Other Assets to Charity and Using Insurance as Asset Replacement
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 16, 2015.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Robert F. Baldwin, Jr.
Baldwin & Sutphen, L.L.P.
- Partner in the office of Baldwin & Sutphen, L.L.P.
- Practice emphasizes all aspects of estate and tax planning, including advising charities on advantages of deferred giving methods
- Served on various charitable boards and advised and lectured for charities regarding planned giving
- Frequent speaker in the areas of trust and estate administration and planning
- Member, American Bar Association, New York State Bar Association
- National Association of Estate Planners and Councils, former president, designated Accredited Estate Planner (AEP); fellow, American College of Trusts & Estates Counsel; fellow, New York Bar Foundation; Honoree, Who’s Who in America; Honoree, Who’s Who in the East; Honoree, Who’s Who in American Law; Honoree, Best Lawyers in America for over 25 years, Honoree, New York Super Lawyers
- Graduate of Syracuse University College of Law
- Can be contacted at 315-477-0100 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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