Thursday, April 10, 2014

Wakeup Call to Charities

Wakeup Call to Charities - Planned Giving Design Center - Lee Hoffman (JEH: Well-known planned giving commentator Lee Hoffman offers his perspective on why charities might have made potentially "fatal" mistakes by reducing or dropping their planned giving efforts in favor of trying to attract new donors. I like his synopsis of the spectrum of charitable/planned giving: "Attract new donors, treat current donors well (loyalty), market planned gifts to their aging donors, put some back for tomorrow (endowment).")

Sunday, April 6, 2014

Important Bermuda Judgment Considers Questions Of Litigation Funding, Private International Law And Trusts - Wealth Management - Bermuda

Important Bermuda Judgment Considers Questions Of Litigation Funding, Private International Law And Trusts : Wealth Management : Bermuda - mondaq (JEH: Main issue was whether trustee of Bermuda trust had binding obligation to provide funding of up to 120 million Swiss Francs to construct Opera House in Lucerne, Switzerland, with Swiss foundations prevailing insofar as they may attempt to demonstrate feasibility of Opera House plan to satisfy condition subsequent of "donation contract" under Swiss law)

Tax Court Gives Taxpayer a Victory in Frank Aragona Trust Case -- But Doesn't Go...

Tax Court Gives Taxpayer a Victory in Frank Aragona Trust Case -- But Doesn't Go All the Way - BNA (JEH: Tax Court case permits trustees to satisfy "material participation" test for passive activity purposes, which has become more important due to the potential application of the 3.8% net investment income (Medicare) surtax -- not for purposes of claiming losses, but to determine whether a trust's income from rental real property is passive and thus subject to the 3.8% surtax)

Thursday, February 13, 2014

NAIC News Release

BERMUDA, GERMANY, SWITZERLAND & UNITED KINGDOM ADDED TO NAIC LIST OF QUALIFIED JURISDICTIONS - NAIC News Release (JEH excerpt: "The jurisdictions will be placed on the NAIC List of Qualified Jurisdictions effective January 1, 2014. Adopted by the NAIC in August 2013, the Process was developed to evaluate the reinsurance supervisory systems of non-U.S. jurisdictions for reinsurance collateral reduction purposes. Reinsurers licensed and domiciled in these four jurisdictions are eligible to be certified for reduced reinsurance collateral requirements under the NAIC's Credit for Reinsurance Model Law.")