Stories that caught our attention  

Emojis are fun, but . . .

Words matter, and apparently, emojis do, too. At least in Canada, where a judge recently ruled that a thumbs-up emoji within a text message qualified as acceptance of a contract despite the sender’s alternate intentions stated later—and at an eventual cost to him of more than $60,000. This differs drastically, for example, from doctrine such as a frequent and strict United States custom where clients’ stock trade instructions to brokers can only occur through one-to-one voice instruction and not even via voicemail. For advisors who focus on fundamental legal documents such as trusts and beneficiary designations, whether charitable planning is involved or not, treatment of emojis may be a trend to keep an eye on.

Yikes!

As a trusted advisor, you may wish to consider sharing with clients the cautionary tale of late singer Aretha Franklin’s estate. A story like this might be the motivation it takes for resistant clients to finally implement estate planning! In a recent court decision, a jury found that the remnants of a 2014 will found in a sofa superseded Franklin’s earlier-stated intentions—and over which family members argued for years.

The doctor is in

Donor-advised funds have gone mainstream! You may notice that the term “donor-advised fund” or “DAF” pops up more and more in your newsfeed. That’s no accident! Even niche markets (such as physicians, for example) are getting on board. Just remember that a donor-advised fund established through YouthBridge Community Foundation delivers all of the benefits to your client that a commercial donor-advised fund through Schwab or Fidelity delivers–plus so much more. Your community foundation is the hub for all things philanthropy and the best place for your clients to organize their giving, support favorite causes, and join with others to make a meaningful difference in the community they love.

 

YouthBridge Community Foundation of Greater St. Louis is a resource and sounding board as you serve your philanthropic clients. We understand the charitable side of the equation and are happy to serve as a secondary source as you manage the primary relationship with your clients. This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. If you have any questions, please contact Michele Mosley.