
	Volume: 7 Issue: 9 Spring 2008

Latest Rulings from the Courts and the IRS	Legislative Developments
Charitable Planning in Practice	Other Items of Interest to Planners
Resources for Nonprofit Management	Advisor Update Archive

Latest Rulings from the Courts and the IRS | see all articles

Daughter's Faulty Disclaimer Results in Loss of Estate Tax Charitable Deduction for Charitable Lead Trust, Estate of Helen Christiansen et. al. v. Commissioner, 130 T.C. No. 1; No. 13190-05

Helen Christiansen's will left the bulk of her asset—comprised primarily of family limited partnership interests holding the family businesses—to her daughter, Christine. read more »

Charitable Planning in Practice | see all articles

Maximizing the Flexibility of a Charitable Remainder Trust—Without Creating Unintended Results

In many ways, a charitable remainder trust (CRT) is rigid—the trust document must meet the requirements of IRC §664 (income tax), §2522 (gift tax), or §2055 (estate tax) if the donor’s gift is to qualify for a charitable deduction. read more »

Save the Date!

Save the date for Advocate Charitable Foundation's second annual Advisor Alliance program: "The Intersection of Legal and Interpersonal Conflicts," exploring the legal, moral and ethical challenges of working with multi-generational family groups.

Date: Thursday, October 16, 2008

Location: Medinah Country Club

Program, sponsored by the William Blair & Company, LLC:

Complimentary buffet breakfast

Part one: Presentation by commercial litigator, Thomas Sphan of McGuire Woods, LLP: “Top 10 Ethical Challenges Facing Estate Planning Practitioners and the Best Practices for addressing them.

Part two: Panel discussion, moderated by Joel Weisman, Host and Senior Editor of WWTW’s Chicago Tonight: The Week in Review.

Panelists include:

Tom Spahn, McGuireWoods, Virginia
Charles F. Newlin, Harrison & Held, LLP, Chicago
Andrew D. Keyt, Executive Director, Loyola University Family Business Center, Chicago

Invitation to follow

Collaboration Helps Client Realize Charitable Goals

Attorney Stephen Patt was working to craft an estate plan for a client who wanted to leave a substantial portion of her assets to be used to help pay medical costs for needy children. Mr. Patt and his client identified several worthwhile charitable giving opportunities, including Advocate Lutheran General Children’s Hospital. With input from Marilyn Schaffer, director of gift planning for Advocate Charitable Foundation—the fund-raising arm of Advocate Health Care—Mr. Patt assisted his client in creating a generous bequest to fund an endowment that will provide charity care while patients are at Lutheran General Children’s Hospital and then provide for any home care needs after discharge, via Advocate Home Health Services. His client then decided to make a lifetime gift to establish her endowment right away. In appreciation for her generosity, Lutheran General will name both the endowment and the Pediatric Intensive Care Unit in its new patient care tower after his client and her late husband. “It’s been very rewarding to help my client achieve her charitable goals in a way that enables her to both be recognized for—and see the impact of—her gift now," Mr. Patt says.

Legislative Developments | see all articles

Administration’s FY 2009 Revenue Proposals Permanently Extend Several Charitable Benefits Under Pension Protection Act of 2006, http://www.pgdc.com/files/bluebk08-1.pdf, pp. 28-50

Treasury's "General Explanations of the Administration's Fiscal Year 2009 Revenue Proposals," or the "Blue Book," include a permanent extension of a number of charitable provisions that expired at the end of 2007. read more »

Other Items of Interest to Planners | see all articles

IRS Substantially Revises Form 5227, Split-Interest Trust Information Return; New Time Estimate for Records, Review, and Return Preparation Exceeds 136 Hours! www.irs.gov

The IRS substantially revised Form 5227, Split Interest Trust Information Return, for 2007 to reflect changes made by the Pension Protection Act of 2006. read more »

Advocate Charitable Foundation raises funds to support clinical excellence and community outreach at Advocate Health Care, a not-for-profit family of caregivers. Advocate comprises 200 sites of care, eight acute care hospitals,and two children's hospitals in metropolitan Chicago:

Advocate Bethany Hospital
Advocate Christ Medical Center
Advocate Good Samaritan Hospital
Advocate Good Shepherd Hospital
Advocate Hope Children's Hospital

Advocate Illinois Masonic Medical Center
Advocate Lutheran General Hospital
Advocate Lutheran General Children's Hospital
Advocate South Suburban Hospital
Advocate Trinity Hospital