REFRESH Nonprofit Basics: Charitable Support for Individuals Affected by a Disaster
Insights on Planned Giving From the BNY Annual Charitable Giving Report for 2024
REFRESH Nonprofit Basics: Year-End Thoughts and New Year To-Do List
Nonprofit Basics: International Grantmaking – Part 2 Income Tax Withholding Rules
Fraud Risks at Nonprofit Organizations - Part 1
REFRESH Nonprofit Basics: Navigating the Complex Rules That Describe a Public Charity
REFRESH Nonprofit Basics: Overview of Nonprofit Charitable Organization Types: Corporation, LLC, Trust, Association and Fiscal Sponsorship
Nonprofit Quick Tip: State Filings in New Mexico and Utah
Back to Compliance: Reinstating Tax-Exempt Status for a Charity
REFRESH: Loot and Private Foundation Rules – Part 2
REFRESH: Loot and Private Foundation Rules – Part 1
IRS Dirty Dozen Warnings on Charitable Scams
California Regulation of Charitable Fundraising Platforms Part 2 - Reporting Due Diligence, Recordkeeping, and Disclosure Rules
California Regulation of Charitable Fundraising Platforms: Part I - Definitions
Nonprofit Quick Tip: State Filings in North Carolina and South Carolina
Nonprofit Basics: Unpacking Prudent Investments, PRIs and MRIs
Nonprofit Basics: Scholarship Grant Program IRS Approval Requirements
Nonprofit Quick Tip: State Filings in Rhode Island and New Hampshire
REFRESH Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities - Private Foundation Advocacy
REFRESH Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities - Legislative Lobbying and Advocacy Rules for Public Charities
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA”) into law. The OBBBA is the tax and budget reconciliation package for the current 2025 fiscal year through 2034. While the bill focuses primarily...more
If you possess paintings, sculptures or other art pieces, they may represent a significant portion of your estate. Thus, these assets must be properly accounted for in your estate plan....more
The April 2025 Section 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and GRATs is 5.00%, which is 0.40% less than the March 2025 rate. The April applicable federal rate (“AFR”) for use with a...more
The 2017 Tax Cuts and Jobs Act (the “TCJA”) brought significant changes to the federal estate and gift tax laws, marking a pivotal shift in the landscape of estate planning and wealth transfer. Enacted on December 22, 2017,...more
Springtime is a great time to review your current estate plan or consider creating one. This year brings a number of opportunities for creating an estate plan, pursuing gifting strategies, and considering philanthropic...more
A collection may hold deep personal significance for a client but may not carry the same sentimental or financial value for their heirs. It is essential to encourage clients to have open conversations with their heirs, as...more
Art and collectibles, while beautiful and culturally significant, can pose significant estate planning challenges. At the time of death, these assets are subject to estate taxes based on their fair market value. Without...more
As we enter 2025, it’s important to stay informed about the current federal estate and gift tax laws, including annual exclusion limits and significant changes anticipated by the end of this year. Annual Exclusion Amount- ...more
People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2024, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $2 million. A...more
Jersey's Royal Court has confirmed the existence of rules in Jersey law that: Where a trust seeks to provide for mixed charitable and non-charitable purposes, the non-charitable purpose can invalidate the charitable...more
McDermott’s Private Client Practice led interactive discussions on a broad range of topics pertinent to ultra-high-net-worth families, their family office representatives and other advisors at our Private Client West Coast...more
How planning can minimize the impact of income taxes - Until recently, estate planning strategies generally focused on removing as much wealth as possible from one’s estate to avoid the bite of federal estate tax....more
Welcome to EO Radio Show – Your Nonprofit Legal Resource. Our charity clients often come to us with a request to help a major donor think about a special gift to the charity, and sometimes we also get pulled in to help the...more
People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more
Charities sometimes spar over entitlement to bequests and other planned gifts. Occasionally, their disagreements become epic legal battles that span many years. In Breathe Southern California v. American Lung Association...more
The year-end is approaching, but you still have time to work on your 2022 tax planning. Consider giving to your favorite charity to make this holiday season merry. Planned charitable giving provides you a way to maximize...more
Cryptocurrencies are becoming a larger component of investors' portfolios, especially for millennials and Generation Z, who collectively make up 94 percent of cryptocurrency buyers. While it may seemingly be too early for...more
Business owners: Now’s the time to revisit buy-sell agreements - If you own an interest in a closely held business, a buy-sell agreement should be a critical component of your estate and succession plans. These...more
In this second blog post on the House Ways and Means Tax proposals, we address the proposed changes that will affect the taxation of trusts, estates, and retirement plans. As we discussed, on September 13, 2021, the...more
As the holiday season approaches, people are thinking about giving to charitable organizations. As a donor, you can be both philanthropic and tax-efficient in your charitable giving. Estate Planning - One way to give is...more
If you’re making sizeable donations to charity as part of your estate plan, your good intentions are clear. But how do you know the funds will be used to further the charity’s mission? There are no absolute guarantees...more
Don’t overlook foreign assets when planning your estate - You’d be surprised how often people fail to disclose foreign assets to their estate planning advisors. They assume that these assets aren’t relevant to their “U.S.”...more
Now or later - When’s the right time to transfer your wealth? - To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the gift and estate tax exemption — to an inflation-adjusted...more
Many people like the idea of leaving bequests to favorite charities in their wills. But instead of leaving money to a charity in your will, you can put that money into a charitable remainder trust and collect income while you...more
Florida residents spend time and energy to ensure their wishes are carried out after death by preparing a will or trust through the assistance of an estate lawyer. Sometimes, their wishes include donating money, land, or...more