The Wealth & Wisdom Blog

Information on Estate Planning, Estate and Trust Administration and Unique Asset Planning

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Trends in Charitable Giving

October 18, 2021 Cory Wessman

“Wessman…Wessman….Oh yes, I recognize your last name–your wife sends me all those fundraising emails! My wife Heather is the associate development director at Avail Academy, a private school in Edina. When I first meet some Avail Academy parents, they claim to recognize our last name by reason of Heather’s numerous fundraising emails sent to them […]

Charitable Remainder Trusts

May 19, 2021 Cory Wessman

A charitable remainder trust (“CRT”) is a type of irrevocable trust that creates a “split interest” in contributed property between the taxpayer and one or more tax-exempt charities. This type of irrevocable trust structure provides three separate tax benefits: (a) an immediate charitable deduction to the taxpayer equal to a certain percentage of the value […]