In Rev. Rul. 2024-09, the Service announced the Section 7520 rate for May will jump to 5.4%. The average rate for 2023 was 4.88%, while the average for 2024 is 5.12%.

Contributing stock to a CRT, which pours into a Special Needs Trust, enables the donors to care for their child, avoid capital gains tax, and give to charity.

It has now been 15 years since the first widespread predictions of a coming transfer of wealth. It is a real phenomenon and will help shape American society for decades to come. Many have predicted that charities will enjoy a windfall as they inevitably receive their share of the wealth. Why, then, have bequests and other planned gifts seen declines in recent years according to industry reports? Many are learning that the wealth transfer will not occur at a constant rate and that bequests and other gifts may actually see a decline before they begin increasing again. This article explains how to adjust planned gifts and other development efforts today to assure continued success in coming years.

The Grantor CLAT offers a large income tax deduction in the year of the gift, which can be carried over for five years. For high net worth individuals, it is also a wonderful vehicle for estate planning. For all donors, this vehicle provides current funding for charity!