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December
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Happy Holidays from the InSight Law Team!
'Tis the season for joy, generosity, and...
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Do or Don’t – Donor Advised Funds
in Bobby's Blog
With the holiday season upon us, many people want to find the best way to give back and donate to charitable causes. A method for giving that is gaining in popularity is donor-advised funds. These are funds created by donors where money, appreciated securities or other assets are deposited, then those funds are distributed to charities over time. Donor-advised funds are on the upswing. In fact, donor-advised fund contributions make up approximately 7 percent of all individual charitable donations. Donations to these funds increased by nearly 24 percent in 2013, according to CNBC.com. If you make a donation to a donor-advised fund,...
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Should You Adopt the Zuckerberg Strategy and “Donate” to an LLC?
Facebook founder and CEO Mark Zuckerberg made headlines after announcing that he would be “donating” the bulk of his $45 billion fortune to charity. In some corners, Zuckerberg was derided since his “donation” was to a Limited Liability Company, as opposed to a charitable trust or actual charity, according to the Washington Post. The Zuckerberg-Chan Initiative (the LLC) will receive $45 billion worth of Facebook shares that Mr. Zuckerberg owns. So, in reality, no real charitable donation was made. Though, Zuckerberg has publicly stated that his LLC will focus on important charitable and public causes such as curing disease, advancing...
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