People often support charities that are important to them by making general monetary donations to those causes throughout their lives. In many cases, there are financial and legal vehicles that could be used when giving to charity that create a greater benefit for both the donor and recipient. This blog, the third in a series of seven on the topic of planned giving in estate plans, will broadly discuss some of the different types of charitable trusts and the specific benefits of a charitable remainder trust.

Attention to detail is critical when you are starting or reorganizing a business. The legal structure you choose has broad impacts: it determines how taxes must be managed, how liability is allocated, and how your enterprise can be funded, to name a few. Whether you are opening a downtown hotdog stand or hoping to launch the next Airbnb, understanding the options for hospitality business structures is vital to your success. To make sure you choose the formal structure that best suits your circumstances, consult with a hospitality attorney who can help you evaluate the options and choose the business structure that best suits your needs and goals. 

Our complicated federal and state tax laws provide vehicles for protecting wealth for the current owner and future generations. Charitable lead trusts (CLTs) provide the means for wealth protection, serving as both a tax and an estate planning tool in West Virginia (WV), Kentucky (KY), and Ohio (OH). Understanding what CLTs are and how they work can help you determine whether they are the best tax and estate planning tool for your needs.

In early 2020, many US states issued shutdown orders to help the spread of the coronavirus. Anticipating widespread need for worker leave and the strain of the shutdown and quarantine orders on employers, the US Congress passed the Families First Coronavirus Response Act (FFCRA). The Act helps small and midsize employers provide employees paid leave necessary for COVID-19-related reasons and is funded by a paid leave tax credit. This blog helps employers seeking to take advantage of these employer tax credits understand who is eligible under the act and the conditions for taking advantage of what is essentially government-funded employee leave.

Planned giving can be a valuable and meaningful piece of your overall estate plan. Developing a charitable giving plan allows you to support causes that are important to you while also preserving wealth for your family. When your legacy is at stake, don’t leave the details to chance. Understanding the different types of charitable giving options is vital to managing your wealth in the most beneficial way for all of your beneficiaries. For those in West Virginia (WV), Kentucky (KY), and Ohio (OH), consulting with a planned giving attorney from Jenkins Fenstermaker, PLLC is a perfect place to begin.