Until the law changed a few years ago, a client who was named as the beneficiary of a parent’s IRA, for example, could count on a relatively straightforward and tax-savvy method of withdrawals called the “stretch IRA.” With the passage of the SECURE Act, that changed for many clients who inherited an IRA after December 31, 2019.
Most advisors exercise extra caution when advising clients about cryptocurrency. Indeed, 68% of investment fund executives surveyed do not believe it is a good idea for their clients to own cryptocurrency in the first place. Still, according to some sources, 43% of clients hold cryptocurrency in their portfolios.
Parkway Alumni Association • YouthBridge Continues Impact Investing • Nominate a Business • Happy Hour • Reminding clients about wills, trusts, and charitable bequests • Summer legislative updates • Farms, tax planning, and funding a family legacy
YouthBridge has made a second round of investment in Justine Petersen in the amount of $300,000, as part of our ongoing commitment to invest more of our endowment in projects that strengthen the St. Louis community.
PAA, entering its 30th year, has been doing its part to recognize the special impact of teachers and school staff through a number of grant and recognition programs. “The association was initially started because the school district wanted to do a better job of tracking alumni,” says Riutcel. “Over the last three decades, we’ve grown into so much more, fostering programs that acknowledge those who make a difference in our schools and that encourage educational opportunities for Parkway students.”
Reconciliation legislation is back in play, and while it includes a few tax provisions (e.g., adding a corporate minimum tax and eliminating the carried interest tax break), the proposed legislation is far less sweeping than reforms proposed in earlier versions.
A gift of farmland to a fund at YouthBridge doesn’t just provide tax benefits. The gift also helps your client overcome the emotional challenges associated with letting go of an asset that in many cases has been in the family for generations.
August is national Make a Will Month, and the publicity surrounding this designation may prompt your clients to ask you about whether their affairs are in good order.
Caritas Fostering Loving Care for Every Child • YouthBridge Welcomes Tom Gatti to Board of Directors • Bunching, long-term appreciated assets, and helping younger clients • QCD eligibility, and public support • QCD enhancements
In legislative news, a recent flurry of activity in the Senate has inched forward the legislation known as SECURE 2.0. Philanthropists and their advisors are watching this legislation closely because of the proposed inclusion of provisions that would adjust the annual $100,000 Qualified Charitable Distribution (“QCD”) cap for inflation and allow a one-time, $50,000 QCD to a charitable remainder trust or other split-interest gift.
Developing a thorough estate plan isn’t important only for Baby Boomers and Gen Xers. Millennials, who now make up nearly a quarter of the population in the United States, may prove to be more enthusiastic planners than their parents and grandparents, according to the 2022 … More →
Advisors frequently comment that they’re surprised to discover the many ways YouthBridge Community Foundation can help their clients, especially compared with national donor-advised fund programs affiliated with brokerage houses or financial services firms.
“You can’t stay inside your own ‘zone’ if you’re going to learn and grow as a human being,” says Tom Gatti. It’s a principle that he and his wife have lived by and passed on to their now-adult children. Gatti, partner at Black Twig Marketing and Communications, is the newest addition to the YouthBridge Board of Directors.
Caritas has the largest adoption and foster care programs in Southern Illinois, supporting nearly 2,400 foster children and their families in 2021, and is ranked one of the highest performing foster agencies in Illinois. It also operates the St. John Bosco Children’s Center, a home for children who are too traumatized to succeed in foster care.
When Marian and Larry McCord’s teenage son, Chad, took his life in 2004, they mourned his passing but also worried about the next family to experience “a living hell,” says Marian. “Actually, at first, I wanted to crawl into a hole and never come out, but eventually I realized that the things I’d learned through all of it had the potential to help someone else.”
YEP! STL Recognized for Innovation in Philanthropy • First Capacity Building Grants Awarded • Endowment Training Series • Playbook: Helping clients organize their giving through a donor-advised fund • Finding the good, giving as a wealth strategy, and an open invitation
The YEP (Youth Engaged in Philanthropy) STL!, a partnership between YouthBridge and First Bank, was recently recognized with an Innovation in Philanthropy award by the St. Louis Business Journal.
A simple playbook to guide you through a client conversation to begin establishing a charitable giving plan using a donor-advised fund YouthBridge Community Foundation.
It can be hard to see the good in people as heartbreaking exceptions seem to dominate modern life, but it is worth remembering that philanthropy–”love of humanity”–is alive and well. A study at Stanford University indicates that a sense of community and calls to action help align people around common values.
Especially over the last few years as social consciousness has increased, many of your clients have no doubt become more interested in how they can make a difference through their philanthropic activities, whether those activities include giving to favorite charities, volunteering, serving on boards of directors, purchasing products that support a cause, and respecting a sustainable environment.