Joseph E. Hancock

As drilling technologies have made significant breakthroughs, oil and gas production has increased dramatically over the past decade, allowing production in states where none existed previously. Approximately twenty states now realize substantial mineral production each year, creating opportunities for philanthropy that were not formerly available. This excellent article by Joe Hancock provides an overview of the basic types of mineral interests and equips gift planners with the tools they will need to effectively cultivate and close gifts of oil and gas interests.

While many gifts of securities into planned gift arrangements are relatively straightforward, it is not uncommon for gift planners to encounter significant difficulties when dealing with more complicated transactions. This article provides gift planners (nonprofit and for-profit alike) with the required knowledge to effectively address complicated stock issues and successfully structure and complete planned gifts funded with stock. Specific areas of consideration include taxation issues, valuation issues, qualified appraisal rules for closely held securities, redemption of closely held securities, dealing with buy-sell agreements, handling special situations, and managing the impact of the Patriot Act on stock gift transactions.