Visual Planned Giving

Visual Planned Giving

An Introduction to the Law and Taxation of Charitable Gift Planning
Article posted in on 11 June 2015| comments
audience: Russell N. James III, J.D., Ph.D., CFP | last updated: 6 July 2015
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Visual Planned Giving

An Introduction to the Law & Taxation of
Charitable Gift Planning


Russell James III, J.D., Ph.D.
Professor & CH Foundation Chair in Personal Financial Planning
Texas Tech University
www.EncourageGenerosity.com


Version 3.0
Copyright © 2015 Russell N.  James III
All rights reserved.
ISBN: 0615986277
ISBN-13: 978-0615986272

DEDICATION


To Vickie Hampton, Kay Sanford, and Linda Hoover for making the work possible



PREFACE

This is not your father’s law and tax book (Part I).  The purpose of this text is to communicate to fundraisers and financial advisors the basic concepts of planned giving in a friendly, straightforward, and visually attractive format, while provided explanatory text that might be helpful where the visual elements are insufficient.  The intended use is for the reader to flip through the images in the sections of interest until reaching an image that seems new or confusing, at which point the surrounding explanatory text may be helpful.  The citations in the text are relatively sparse and for those desiring more technical texts with superior citations I recommend Thomas J.  Ray, Jr.’s, Charitable Gift Planning, Catherine W. Wilkinson & Jean M. Baxley’s, Charitable Giving Answer Book, Bruce R.  Hopkins’ The Law of Fundraising, and articles at the planned giving design center, www.pgdc.com.

This is not your father’s law and tax book (Part II).  This book is intentionally published in a print-on-demand format.  This means that changes can be incorporated into the current version of the book within a matter of days.  It also means that I would be most appreciative of any information related to errors, trivial or otherwise, because these are easily corrected.  Please e-mail me at EncourageGenerosity@gmail.com if you happen to find such.  Note, however, that some errors of omission are intentional as this is not intended to be an exhaustive treatment of every possible transaction type and option, but rather is intended to be a basic primer on charitable gift planning.

The slides used in this text are from the courses that I have taught for many years as part of the on-campus and online Graduate Certificate in Charitable Financial Planning and Master of Science in Personal Financial Planning both in the Department of Personal Financial Planning at Texas Tech University, as well as in my course in Charitable Gift Planning at the Texas Tech University School of Law.  Information on the online Graduate Certificate in Charitable Financial Planning is available at www.EncourageGenerosity.com.  Additionally, the PowerPoint or pdf version of many of the slides contained herein and audio of some related lectures are also available, for free, at the website.

And now, on to the disclaimers:  This notice is made in order to comply with applicable Treasury Department and other regulations (including but not limited to Circular 230):  This book is not intended to provide personal legal, tax or financial advice.  Consequently I urge you to seek the advice of your own legal, tax, or financial professionals in connection with gift and planning matters.  This text is not intended to be used and cannot be used for the purpose of avoiding tax-related penalties.

This document is for information and illustrative purposes only and does not purport to show actual transaction results applicable to your specific situation.  It is not, and should not be regarded as, investment, legal, or tax advice or as a recommendation regarding any particular transaction or course of action.  Opinions expressed herein are current opinions as of the date appearing in this material only and are subject to change without notice.  Reasonable people may disagree about the opinions expressed herein.  All transaction and investments entail risks.  There is no guarantee that investment or tax planning strategies will achieve the desired results under all market conditions. 

This book contains text and images representing charities including The Salvation Army (as an example of a public charity) and The Bill & Melinda Gates Foundation (as an example of a private foundation).  These are used for illustrative purposes only and should in no way imply any support, endorsement, or affiliation of these organizations with this text or its author.  The trademarks of these organizations are owned by their respective organizations.  Images in this text were purchased from www.istockphoto.com and www.stockfresh.com.  The image of Bill and Melinda Gates is from http://commons.wikimedia.org/wiki/File:Bill_og_Melinda_Gates_2009-06-03_(bilde_01).JPG and was taken by Kjetil Ree in 2009.  The image of Bill Gates alone is from http://commons.wikimedia.org/wiki/File:Bill_Gates_in_Poland.jpg

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Department of Personal Financial Planning
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