Wendy Gerzog on “The Strict Rules of Charitable Split-Interest Trusts”

Wendy Gerzog has published an article discussing an article that might be categorized under the headline “No good deed goes unpunished” or maybe “Tax traps for the unwary.”  Here is the intriguing opening paragraph:

Now that we have finished the season of gift giving, which, for the tax-minded, includes the season of tax savings through charitable gifts, we should remember a few words of caution. When giving both to your family and to your charity, you must follow the rules carefully to qualify for a charitable deduction. Those who believe you really don’t have to be vigilant until after the audit letter arrives should rethink the costs of procrastination. Such is the sad story of Anthony J. Tamulis, a priest who wanted to leave most of his fortune to the Roman Catholic Diocese of Fall River, Mass

The rest of the article is as interesting and instructive as the opening paragraph.

dkj