by Joel Roettger | Jul 12, 2017 | Estate Planning, Probate, Tax
Executors who discovered too late that they should have made a portability election have gotten a reprieve. Portability refers to the ability of a surviving spouse to inherit the unused federal estate tax exemption of the predeceasing spouse. In order to receive the...
by Joel Roettger | Jun 28, 2017 | Estate Planning, Retirement Assets, Tax
Is a spousal rollover available when the beneficiary of an IRA is a revocable trust? Surprisingly, in some cases, the IRS says yes. Decedent named a joint revocable trust as the beneficiary of his IRAs. He established the trust with Wife, and the couple funded the...
by Joel Roettger | May 11, 2017 | Charitable, Tax
Can an amateur sports league qualify as 501(c)(3) organizations? Yes, but only if the organization is organized and operated for purposes that are not merely recreational and not for the sole benefit of its members. Case in point: an adult men’s baseball league...
by Joel Roettger | May 3, 2017 | Estate Planning, Trusts
Grantor executes a charitable remainder unitrust (CRUT). CRUTs are normally subject to certain private foundation rules. However, Grantor never claims an income tax or gift tax charitable deduction with respect to the trust. Is the CRUT still subject to the private...