Planning and Documenting Charitable Gifts
Alan F. Rothschild Jr., a partner at Hatcher, Stubbs, Land, Hollis & Rothschild, LLP in Columbus, Georgia, has recently published Planning and Documenting Charitable Gifts in Prob. & Prop., July/Aug. 2006, at 53.
The introduction and conclusion read as follows:
Many of today’s donors desire to designate their charitable contributions for specific purposes or to impose other conditions on their gifts. Such conditions and restrictions are usually well-intended, but careful thought and planning are required to ensure these limitations do not endanger the deductibility of the contribution by the donor while ensuring proper use of the gift by the charity. * * *
Planned giving advisors must be sensitive to the new breed of donors and their desire to control or restrict the charitable gifts. Many of these desires can be addressed in a well-drafted charitable gift agreement. Failure to properly design and restrict donor control and gift restrictions, however, can cause practical and tax implications that both the donor and the charitable recipient would like to avoid.
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