Boone Pickens had outsize ambitions when he donated $165 million to
transform athletics at his alma mater, Oklahoma State University, which had long played second string in football to the rival University of Oklahoma Sooners.
Warren E. Buffett’s plan to give away $37 billion to charity not only made him one of the most generous philanthropists, it helped him avoid one of the biggest personal tax bills in U.S. history.
For Dick Taylor, this is a busy time of year. As a senior executive at a major insurance
brokerage, he finds that year-end renewals keep him late in the office most nights.
Estate planning attorney Squillace talks to ThinkAdvisor about how wealthy
clients can minimize taxes through charitable giving, loss harvesting and other
strategies.
While higher tax rates have increased high-net-worth clients’ interest in charitable remainder trusts (CRTs), increasing the lettering that goes with CRTs also may increase the planning possibilities.
Charitable remainder trusts may be due for a bigger role in IRA planning. The primary factors are demographic, with millions of baby boomers entering retirement each year.