CFT January Advisor Connection: Celebrating Professional Advisor Partners, Tax Savvy Tips, and Upcoming Events
CFT January Advisor Connection: Celebrating Professional Advisor Partners, Tax Savvy Tips, and Upcoming Events View this email in your browser
Welcome 2020!
As we welcome 2020, we would like to thank you, our professional advisor community, for encouraging charitable giving.
We especially celebrate the following advisory firms who helped their clients to grow their personal and family philanthropy by opening CFT funds in 2019:
Ryan Blackburn, Matter Family Office
Kevin Calandro, The Calandro Group - Merrill Lynch Wealth Management
Cathleen Crews, Matter Family Office
Allen Dogger, UBS Financial Services
Leslie Henson, Huber Prater & Henson, PC
Danika Mendrygal, Mendrygal Law, PLLC
Kathy Muldoon, CFP, Carter Financial Management
Tara Scottino, True North Advisors
Debra Brennan Tagg, Brennan Financial Services
Christine Wakeman, Winstead PC
Dusty Wallace, True North Advisors
Ryan Wallace, Hilltop Securities
Genevra M. Williams, Mendrygal Law, PLLC
Lawrence M. Wolfish, Wolfish & Newman, P.C.
Tax Savvy Use of IRA's
At CFT, we are helping more and more donors be tax-savvy with charitable contributions from their IRAs to establish Designated Funds, Scholarship Funds, and Community Funds to further their philanthropic goals while efficiently using their retirement assets.
The new Setting Every Community Up for Retirement Enhancement (“SECURE”) Act (effective on January 1, 2020) makes several changes to the minimum distribution rules for individual retirement accounts and other retirement assets, changes the age cap for contributing to retirement accounts, and severely limits the use of so-called “stretch-IRAs.” This presents a significant change in estate and financial planning and gives planners the opportunity to speak with clients about their IRA plans and beneficiaries.
“The most important thing to note is that there shouldn’t be a knee jerk reaction to a Roth conversion or CRT solution when considering retirement accounts. Thoughtful consideration is required to determine how any change will best fit with the client’s goals and overall financial plan. For clients that have created a see-through trust to serve as the beneficiary of the IRA, it is important that they reach out to their advisors and estate attorneys as soon as possible to discuss their options. Especially for conduit see-through trusts.” - Dusty Wallace, CFP, JD, Vice President of Financial Planning, True North Advisors
Talk with us to learn more about this important charitable planning strategy for your clients!
Geri Jacobs, ChFC, CLU
Director of Charitable Gift Planning Phone: 214-750-4255 E-mail:gjacobs@cftexas.org
Upcoming Events:
February 11, 2020 - Board Chair Celebration
Please join us Feb. 11 and bring your clients!
Join us as we toast an important milestone in grantmaking and welcome CFT's newest board chair, Alfreda Norman!
This is a great opportunity to invite your clients to learn more about CFT.
Friday, March 27 & Tuesday, April 21, 2020 -GiveWisely for Advisors Workshops
Our team at CFT understands that it sometimes can be hard to know how to start a conversation with a client about charitable planning. Have you ever wanted some quick tools to help you ask questions about the causes your clients love and how they intend to support the community through their estate plans? To help you inspire the dialogue, please join us for a spring workshop or call us to discuss a custom date for your firm.
GiveWisely for Advisors Workshop Dates: Friday, March 27, 2020 or Tuesday, April 21, 2020 Time: 8:00-9:30am Location: Communities Foundation of Texas
5500 Caruth Haven Lane, Dallas, TX 75225 Breakfast will be provided
*There is no charge to participate in the two sessions offered at CFT
May 12, 2020 - CFT/SMU 2020 Professional Seminar: Washington Update & Planning Considerations for a New Decade
Communities Foundation of Texas invites you to join us for our 2020 CFT/SMU Professional Seminar.
The morning will kick off with noted speaker Jeff Bush for a one-hour presentation of The Washington Update, covering timely insights into Washington, D.C. legislative and fiscal topics.
Following, Jeff's presentation, he'll be joined by Marvin Blum, The Blum Firm, P.C.;Pamela Lucina, Northern Trust; and Jonathan March, Armanino for an engaging 1.5-hour panel discussion with expert advice on how to navigate tax, estate and charitable planning concerns for clients in this important election year.
Date: Tuesday, May 12, 2020 Time: 7:30am Breakfast | 8:00am Welcome | 8:30-11:30am Program Location: Communities Foundation of Texas
5500 Caruth Haven Lane
Dallas, TX 75225
Registration: $90.00 CE Credits Pending: CFP/CPE/MCLE 2.5-hour credit
$10.2 million in grants to 32 nonprofits working in and across public safety, health and education through CFT's Caruth Fund
House Bill 3, influenced by CFT's Educate Texas, infused $6.5 billion into Texas schools, making it one of the most important pieces of school financial legislation in decades
12 nonprofits in Collin County participated in the inaugural Collin County Nonprofit Leadership Institute