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Estate Planning and Charitable Giving: The Basics

A seminar presented by Gordon Fischer Law Firm, P.C.
When: Monday, January 25, 2016 from 2:00 p.m. – 3:30 p.m.
Where: Iowa City Senior Center, 28 S. Linn Street, Iowa City, Room 208

–Free and open to the public– 

Gordon Fischer will lead the group in three discussions:

  • Why you need a will and estate plan
  • 7 most common estate-planning mistakes
  • 5 easy ways to super charge your charitable giving

Please register by simply emailing name(s) to: 
gordon@gordonfischerlawfirm.com or by calling 319-356-5220

A big shout out and thank you to the following sponsors:

Gordon Fischer is an Iowa lawyer with more than 20 years experience. The mission of his law firm is to promote and maximize charitable giving in Iowa. Reach out any time — email is gordon@gordonfischerlawfirm.com and phone is 515-371-6077.

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***BREAKING NEWS: The IRA Charitable Rollover has been passed by Congress, and signed into law by President Obama. Click HERE now for more information and an extended article.

The IRA Charitable Rollover is permanent law!

Friday, December 18th, 2015, was a historic day in American philanthropy. Congress passed, and President Obama signed, the IRA Charitable Rollover law. This law presents huge opportunities for nonprofits and the donors who fund them.

What does this mean?

The IRA Charitable Rollover allows individuals aged 701⁄2 and older to donate up to $100,000 from their IRAs directly to charities, tax-free.

I break it all down for you.

Learn all about the IRA Charitable Rollover law, with an extended article and video, including case studies.

Sign up now for free and instant access! Click HERE now for more information and an extended article.

 

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40% off! If this sign were up at your favorite store, it would definitely get your attention.

Charitable gifts made during lifetime are generally preferable to charitable gifts made by will, for fairly simple tax reasons.

A charitable bequest is deductible for federal estate tax purposes, but is not deductible for income tax purposes.

A gift made during lifetime is out of the donor’s estate for estate tax purposes, but also provides the donor with a deduction for income tax purposes.

Thus, for donors in 40% combined federal-state income bracket, a charitable gift during lifetime is 40% less expensive than a similar gift during will.

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Will the story of Prince Farming have a fairytale ending?

ABC’s The Bachelor, Season 19, is coming to a close. On tonight’s finale, Chris Soules, the dreamy farmer from beautiful Arlington, Iowa, will choose between Whitney and Becca. Who will get the final rose? Whitney says she loves Chris, but does she really want to give up the big city and successful nursing career for life on the farm? And does Becca have enough real-life experience to take the next step with Chris? The chiropractic assistant revealed she’s never been in love.

Please don’t judge.

Sure, I have better things to do with my time than watch reality TV. But, I’m a sucker for watching Iowans on the national stage. And, setting aside the predictable formula and questionable premise of finding true love through competition, there’s no denying the show revealed Des Moines to be a happening urban center and rural northeast Iowa a pastoral wonder, which has been fun to see. So this year, I admit I’ve not only watched The Bachelor regularly, I’ve even followed its drama online and embarrassed myself asking friends if they are “Team Whitney” or “Team Becca.” And I can say for certain what Prince Farming should do.

The path for Chris Soules is clear

Chris and whoever he chooses to share his life on the farm can deepen their love by embracing charitable giving. As a farmland owner, Chris is a great real-life example of someone who should pursue some tax-savvy charitable giving opportunities.

Specifically, he should give farmland to his favorite causes, and he should give now instead of later for maximum benefit. He should (1) use the federal charitable tax deduction, (2), avoid long-term capital gains taxes, and (3) take advantage of the Endow Iowa Tax Credit. In fact, he should combine all three to achieve tax savings and increase the value of his gifts dramatically..What great role models Chris and his new fiancée (?) could be.

The Bachelor could be The Benefactor

ABC, here’s a new show idea: a guy who deeply cares about his community and state explores tax-savvy opportunities for charitable giving. There would be fewer tears and less kissing, but plenty of thrills and true love. Call me.