This session will focus on strategies, traps and solutions for charitable uses of retirement assets. We will first address the impact of the 2018 tax changes on charitable giving, with tax strategies for the 20 million households that will no longer get income tax savings from their charitable gifts because they will not be itemizing their tax deductions. Then we will consider the increased importance of “Charitable IRA Rollover” and review strategies for charitable bequests of retirement assets, including an introduction to “income-based charitable bequests,” a way for an estate or trust to get income tax savings from charitable bequests.
Learning Objectives
- Understand philanthropic strategies and opportunities for those who do not itemize their tax deductions.
- Prepare to promote qualified charitable distributions from IRAs.
- Learn about new strategies for gifts via bequest from retirement assets.
Christopher Hoyt
PROFESSOR OF LAW, UNIVERSITY OF MISSOURI – KANSAS CITY
Christopher Hoyt is a Professor of Law at the University of Missouri Kansas City School of Law where he teaches courses in the area of federal income taxation, charitable organizations and retirement plans. He received an undergraduate degree in economics from Northwestern University and dual law and accounting degrees from the University of Wisconsin.
Chris is currently the Vice-Chair of the Charitable Group (Section of Trusts and Estates, American Bar Association) and he serves on the editorial board of Trusts and Estates magazine. He is an ACTEC fellow and has been designated by his peers as a "Best Lawyer." He was elected to the Estate Planning Hall of Fame by the National Association of Estate Planners & Councils.