Hear words of wisdom from three alumni experts in this podcast of the 2014 Gift Planning program held during Reunions.
The choices you make about philanthropy can have a lasting effect on your best asset -- your family -- for generations. Panelists James (Jay) E. Hughes Jr. ’64, a retired attorney and author of the landmark Family Wealth: Keeping It in the Family; Malcolm A. Moore ’59, a trusts and estates attorney; and Richard Rampell ’74, a CPA in estate and charitable gift planning, offer thoughtful guidelines and answer questions.
Having an IRA has long been touted as a smart retirement strategy. But while IRAs provide tax benefits during their owners’ lifetimes, they can become a tax liability when they are passed on as an inheritance. The solution? Use the funds to make a charitable gift. That’s what Mark Krosse ’72 is doing for Princeton.
Donors who are age 70½ or older can make gifts of up to $100,000 to Princeton and other charities directly from their IRAs without including the withdrawal in their taxable income. This provision, available through December 31, 2013, was passed into law as part of the American Taxpayer Relief Act of 2012.
Attorneys William Zabel ’58 and Howard “Scott” McCue III ’68 pass on five important tips for sharing wealth wisely with your children from the 2013 Reunions Seminar.
Howard “Scott” McCue III ’68, retired from the international law firm Mayer Brown LLP, shares his expertise on recent tax law changes and their possible ramifications for charitable giving.
William Zabel ’58 and Howard “Scott” McCue ’68, two highly regarded trust and estate attorneys, discussed estate planning questions at the Office of Gift Planning's Reunions seminar on Saturday, June 1, 2013.
Donors who are age 70½ or older can make gifts to Princeton and other charities directly from their IRAs without including the IRA withdrawal in their taxable income.