New Website Lists U.S. Donors of $1 Million+ Gifts

9:20 pm Asset Protection, California Trusts, Estate Planning

money gift2 150x150 New Website Lists U.S. Donors of $1 Million+ GiftsForbes.com reports today the Center on Philanthropy at Indiana University has created a free searchable database that lists all charitable gifts of $1 million or more made to U.S. charities since 2000.

Known as the Million Dollar List, the website allows you to search by donor, recipient, location and sector.  The Center on Philanthropy says it is the nation’s most complete database on $1 million+ gifts, and that its purpose is to provide donors and their advisors with “a new resource as they consider strategic approaches to giving.”

Charitable gifts are a wonderful way to reduce your estate taxes and support favorite non-profit organizations at the same time. In addition, qualified charitable gifts can reduce your annual tax bill.

Some of the advantages of giving gifts while you are still living include:

  • Reaping the appreciation of your beneficiaries and seeing how they use your gift;
  • If Congress decides to decrease the gift tax exemption in 2013 — and elects not to grandfather 2011 and 2012 gifts – the gifts given now would still eliminate future appreciation of those gifts from your estate;
  • Those in professions with a high risk for malpractice claims can move up to $5 million into trust to protect assets;
  • Same-sex and other unmarried couples can shift assets without incurring taxes.

With the rise in exemption rates, if your trust documents include a “formula clause” rather than stating a specific amount, you should review them with your California estate planning attorney to be sure you don’t inadvertently disinherit a loved one.

Let our Costa Mesa law offices help you get started by contacting us today.

 

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