Bonus Program Meeting — Charitable Planning When the Stars Align: Why 2020 is the Year for Charitable Gifts
2020 has reshaped daily lives around the world. Massive volatility in the financial markets, tens of millions of workers unemployed, and a shut-down of the country have caused economic stress without precedent. Ironically, 2020 is a also a historic opportunity for estate and charitable planning – taking advantage of depressed assets values, low interest rates, and high gift and estate tax exemptions. In addition, anticipated future increases to income, estate and gift tax rates are creating a sense of urgency for planning this year.
These scenarios combine to create an opportunity for our advisory community and our clients to make an enormous impact with charitable giving at the same time they carry out their own tax-advantaged planning. At a time when giving is more needed than ever, recent legislation may make 2020 a year of historic philanthropy for wealthy donors.
John and Steve will review legislative changes and share planning techniques, including: 1) Cash gifts to operating charities deductible at 100% of AGI; 2) How best to leverage Roth IRA conversions when paired with charitable gifts; 3) Evaluating CLT and IRA CRT as combined estate and gift planning techniques; 4) “The Bonus Gift” – the gift that keeps on giving; 5) How to leverage QCDs; and 6) Factors to analyze when evaluating assets for gifting.
John Kraemer, CSPG
Partner, Solana Beach
As a WealthPoint Partner, John brings more than 30 years of experience and background in the areas of business succession, estate planning, family wealth governance, philanthropy and insurance planning. He helps clients crystallize their goals and objectives from a family, business, personal, and philanthropic perspective. With the WealthPoint team and clients’ trusted advisors, he creates a synergy of talent, education, and resources; providing a dynamic multidisciplinary team approach in creating and implementing innovative and efficient planning
John’s family office and business experience come from his role as Chairman of the Board for Kraemer Land Company, a family office operating in Southern California (www.kraemerland.com). All 140 family owners are descendants of early land grant settlers in Southern California, with Orange County business and real estate roots dating back to the 1860s. The Kraemer family has a long history of creating communities. Today the company continues to diversify the family’s real estate portfolio with in-fill residential, commercial projects, joint ventures, and lending. John’s role is to provide oversight to the executive management team with the company’s acquisitions, strategic projects, forward vision, and portfolio optimization.
John also serves in an executive role in several businesses beyond Kraemer Land Company, including two private foundations and two additional family real estate businesses. John also is an owner and investor in a family a vineyard and winery (www.yorbawines.com). He received the professional designation of a Certified Specialist in Planned Giving (CSPG) in 1995.
John lives in Del Mar, California with his wife Cim and is the proud father of three adult children.
Partner, Rancho Santa Fe
Steven is a partner in the private client and tax team.
He focuses his practice on estate planning, trust and estate administration, charitable giving and representing tax-exempt organizations. He has designed and used computer modeling to show the economic consequences of various estate planning and charitable giving techniques.
He is also experienced in the area of executive compensation, focusing on compensation and intermediate sanctions issues for tax-exempt organizations. Steven has represented exempt organizations in IRS audits, in civil and probate court, and before state Attorneys General.
He has been recognized as a Super Lawyer since 2013, Best Lawyers in America® since 2011 for Non-Profit Charities Law and Trusts and Estates, and has achieved a Martindale-Hubbell® AV Rating and a First Distinguished Service Award - Partnership for Philanthropic Planning of Greater Los Angeles - Annual Western Regional Planning Giving Conference 2012.
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