The Wealth & Wisdom Blog

Information on Estate Planning, Estate and Trust Administration and Unique Asset Planning

Blog Archives

Charitable Planning as a Triple Threat to the Tax Code

In basketball, a player is known to be in a “triple threat” position when he or she is holding the basketball and in an athletic position with the ball, ready to (i) pass to a teammate, (ii) dribble drive to the basket to score, or (iii) immediately shoot a jump shot.  In my past years […]

Trends in Charitable Giving

“Wessman…Wessman….Oh yes, I recognize your last name–your wife sends me all those fundraising emails! My wife Heather is the associate development director at Avail Academy, a private school in Edina.  When I first meet some Avail Academy parents, they claim to recognize our last name by reason of Heather’s numerous fundraising emails sent to them […]

Charitable Remainder Trusts

A charitable remainder trust (“CRT”) is a type of irrevocable trust that creates a “split interest” in contributed property between the taxpayer and one or more tax-exempt charities.  This type of irrevocable trust structure provides three separate tax benefits: (a) an immediate charitable deduction to the taxpayer equal to a certain percentage of the value […]