BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Estate Planning
  • schedule 90 minutes

Charitable Giving and Planning After the One Big Beautiful Bill Act

New Rules, Impact on Individuals vs. Estates and Trusts, Planning Considerations

$297.00

This course is $0 with these passes:

CLE
ALL
  1. keyboard_arrow_leftBack
BarbriPdBannerMessage

Description

IRC Section 642(c) governs income tax charitable deductions for trusts and estates, which are substantially different from charitable contribution deductions for individuals and corporations under Sec. 170 and Sec. 642(c)(1). Trust and estates attorneys must have a complete understanding of these rules and reporting requirements for claiming charitable deductions and the impact on certain tax and estate planning strategies.

Section 642(c) sets forth unique rules on charitable deductions. There is no adjusted gross income limitation for trusts, and trusts can contribute to foreign charitable organizations. Since trusts can be taxed themselves or as carryout taxable income to beneficiaries, trust and estate attorneys and fiduciaries need to understand these rules to preserve these valuable deductions.

Although deductible on the estate return, specific bequests are considered deductions from the principal and do not generate a tax deduction. However, making charitable bequests with particular assets can generate significant tax savings, which must be appropriately reported to ensure deductibility.

In addition, the OBBBA introduces several changes impacting charitable deductions, particularly for trusts, such as unlimited deduction potential, specific trust requirements, and the possibility of changes to individual charitable deduction rules impacting trusts and estate planning.

Trusts and estates must adhere to various rules to obtain income tax deductions, such as the governing document and gross income requirements, charitable purpose and eligible donee requirements, and other additional planning and reporting considerations.

Listen as our panel of trust and estate tax experts explains the caveats and considerations for income tax charitable deductions under Sec. 642(c), the impact of OBBBA, deduction of the charitable remainder interest, split-interest gifts, governing instrument and gross income requirements, and planning and reporting requirements.

Presented By

Mackenzie R. Collins
Attorney
Chapman and Cutler LLP

Ms. Collins is an associate and member of Chapman's Trusts and Estates Department. She focuses her practice on estate planning and probate administration as well as representing individuals and corporate fiduciaries on a wide range of matters, including estate and gift planning, estate and trust administration, retirement account planning, fiduciary and individual income tax planning and compliance, charitable gifting, real estate matters, and business succession planning.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Lauran Stevenson
Senior Counsel
Chapman and Cutler LLP

Ms. Stevenson is a senior counsel and member of Chapman's Trusts and Estates Department. She concentrates her practice in the areas of estate planning and private wealth management, business succession planning, and federal estate tax matters. Ms. Stevenson regularly counsels clients on sophisticated taxation issues designed to minimize income and estate taxes, protect assets, and preserve wealth. She has extensive experience in personal and corporate income tax matters and has worked on all facets of taxation, from controversy to transactions to planning. As part of the Trusts and Estates Department, Ms. Stevenson also advises banks and trust companies who provide private wealth services.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.


  • Live Online


    On Demand

Date + Time

  • event

    Tuesday, October 7, 2025

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

I. Governing documents requirements

II. Internal Revenue Code requirements for trusts and estates

III. Impact of OBBBA

IV. Reporting obligations and challenges

V. Recent cases and planning considerations

The panel will review these and other critical issues:

  • Charitable deduction rules and requirements
  • Impact of the OBBBA
  • Reporting of charitable deductions
  • Distinctions between contributions made from the corpus and those made from income
  • Types of trusts eligible to make deductible donations
  • Specific provisions in trust documents that allow for deductible contributions
  • Differences between allowable individual and trust contributions