Charity Issues Archives - Timins Law Group

Last Minutes Gifts and Transfers for 2018

Posted on December 27, 2018

Congratulations, you made it through Christmas / Hanukkah / Kwanza, despite the fact you were seated next to your anti-vaxxer cousin who tried to explain to you in two syllable words how the earth actually is flat. All nieces and nephews have been given your gifts (likely a sweater instead of the cool toy they desperately needed to show off to fit in on the school bus), all dishes are cleaned, and all the leftovers have been thrown out unless you are a bachelor. BUT WAIT!! You haven’t wrapped up the Holidays until you make a complete drunken fool of yourself on Snapchat slurring Old Anzine (it’s pronounced “Auld Lang Syne” in Scotland for some reason) and have made the

Don’t Leave Money to Charity Using Your Will

Posted on December 28, 2017

Charities receive some of their largest gifts upon the passing of a benefactor. While this is a kind gesture on your part, if you live in New York you should leave money to your preferred charity using any method other than your Will. Probate is Annoying: Probating a Will requires New York’s involvement, meaning Probate can be an expensive, tedious and slow process. You will need to both place the charity on notice that they are a beneficiary under the Will, send them their funds, and procure a Release from the charity. All of this takes time, meaning an attorney is billing for all of this. Attorney General’s Involvement: As if New York’s courts weren’t inefficient enough for

Giving to the Right Charity at the Funeral: Using Your “DORA”

Posted on June 26, 2015

I attended the wake of my friend Michael on Monday. He was a funny, likable, handsome man of 29 years of age and died unexpectedly. Like so many other people, I will miss Michael’s good humor and positive attitude. At the wake I noticed that his family had requested that any people who were so inclined could make a charitable donation to the Asthma and Allergy Foundation of America. Here was a young man who had no idea his passing was imminent, and his family had decided to ask for donations for a cause that was relevant to him, but he may never have voiced an opinion for or significantly donated to himself. And it suddenly hit me: I have

GUEST BLOG – Jennifer DiClemente of the American Cancer Society, Inc.: Charitable Planned Giving

Posted on March 16, 2015

Leaving a “planned gift” to charity is not always the first thing that comes to mind when you begin considering your estate plans. But utilizing this tool can be a powerful option for individuals, families and charities alike. These special gift arrangements often provide significant financial benefits such as increased income, lower income tax, bypass of capital gains, elimination of potential estate taxes, diversification of assets, and more—all while helping to support a cause you believe in. Anyone can take part in a planned giving program by remembering a charity in their estate plans. When you hear the expression “planned giving,” you can consider the face of a youthful female, busy raising three children. This is the way one of