Intangible Personal Property

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26 Jan 2011 | Intangible Personal Property | National Publication | Article
Navigating the Charitable Transfer of a Partnership Interest: A Primer

For an individual holding an interest in a business or investment entity taxed as a partnership, a charitable transfer can create an attractive planning opportunity while providing welcome support to a favored charity.  In this article, North Carolina-based CPA...
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6 Oct 2010 | Intangible Personal Property | National Publication | Article
The Hidden Gift

Billions of dollars of life insurance death benefits are owned by charities. This short article by Steve Zeiger, Israel Lustig and Dick Weber will explain a new technique that can dramatically reduce the cost of holding some of these policies. And for elderly donors...
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13 Sep 2010 | Intangible Personal Property | National Publication | Article
Use of Life Insurance in Private Foundations - Continuing a Legacy

It's a well known fact that life insurance is one of the most efficient assets in creating an estate when it is needed. It is also common to such contracts to be owned by public charities. In this article, Peggy M. Hollander, Managing Partner of the Succession...
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10 Feb 2009 | Intangible Personal Property | National Publication | News story | 2 comments
AALU Seeks Safe Harbor for Valuation of Life Insurance Contracts
Writing for the Association for Advanced Life Underwriting, Michael Corry has recommended that a safe harbor for the valuation, substantiation and reporting requirements for life insurance policies donated to charity be recognized in proposed regulations. Currently...
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3 Sep 2008 | Intangible Personal Property | National Publication | News story | 9 comments
Life Insurance: What's It Worth? (And Who Says?)
Pension Protection Act forces appraisers of donated policies to reassess methods, qualifications
 Gifts of life insurance policies to not-for-profit organizations can benefit both the organization and the donor, the latter in the form of an often sizeable income tax charitable deduction. However, under the...
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11 Jul 2005 | Intangible Personal Property | National Publication | Article | 1 comments
Practical Charitable Planning for Employee Stock Options
Because of the complex rules governing the taxation of stock options, careful planning is essential when considering a charitable contribution of stock options or of stock acquired through the exercise of stock options. In this article from Estate Planning Journal,...
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18 May 2004 | Intangible Personal Property | Partnership for Philanthropic Planning, National Publication | Article | 1 comments
Charities and Insurance: The Next Big Thing?

Last week the PGDC published the first of two "white papers" commissioned by Leimberg Information Services on the subject of financed charitable life insurance programs entitled "Insurable Interest Under Siege." In this second paper, attorney...
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10 May 2004 | Intangible Personal Property | National Publication | Article | 2 comments
Insurable Interest Under Siege
For the past several decades, life insurance has been used in connection with charitable giving as both a gift vehicle and as a wealth replacement tool. In this white paper, commissioned by Leimberg Information Services, Inc., Michel Nelson from Iowa Savings Bank...
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9 Mar 2004 | Intangible Personal Property | National Publication | Article | 1 comments
Innovative Strategies for Using Life Insurance in Charitable Giving
Charitable gifts of life insurance are most often thought of in the context of the charitable donee receiving a future death benefit. In this article from the February 2004 issue of Estate Planning Journal, attorney Joel M. Breitstein examines a unique strategy that...
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30 Sep 2003 | Intangible Personal Property | National Publication | Article
It Does Not Compute: Copyright Restriction on Tax Deduction for...
Charitable gifts of intellectual properties protected by copyright, patent, and trade secret law present a tremendous opportunity for donors and charitable recipients. In this comprehensive article from the Florida Tax Review, William A. Drennan, adjunct professor at...
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2 May 2003 | Intangible Personal Property | National Publication | Article | 1 comments
Viatical Settlements: Myths and Misconceptions
San Francisco financial and estate planner JJ MacNab takes an in-depth look at viatical life insurance settlements -- ten myths that accompany such arrangements -- and eleven case studies that illustrate their creative use.
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2 May 2003 | Intangible Personal Property | National Publication | Technical Report
Intangible Personal Property

Intangible personal property is property that has no intrinsic value but is merely representative or evidence of value. Common examples include securities (both public and private), copyrights, royalties, patents, personal service contracts, installment obligations...
4.5
1 Jul 2002 | Intangible Personal Property | National Publication | Article
Life Insurance as a Charitable Planning Tool: Part II
Last week the PGDC published part one of a two part article on gifts of life insurance by Stephan Leimberg and Albert Gibbons. Now we bring you part two from the April 2002 issue of Estate Planning Journal wherein the authors suggest...
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24 Jun 2002 | Intangible Personal Property | National Publication | Article
Life Insurance as a Charitable Planning Tool: Part I
Need a primer on gifts of life insurance? We have found the best! In part one of this two part article from the March 2002 issue of Estate Planning Journal, noted experts Stephan Leimberg and Albert Gibbons explore the many traditional and...
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22 Aug 2001 | Intangible Personal Property | National Publication | Article | 10 comments
The Hazards of Unmanaged Life Insurance Policies
What happens to a life insurance contract after it is contributed to a charitable organization? Unfortunately, in most cases, not much. In this edition of Gift Planner's Digest, Certified Insurance Consultant Austin "Dunny" Barney discusses the review process that...
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3 Mar 1999 | Intangible Personal Property | Partnership for Philanthropic Planning, National Publication | Article
Charitable Reverse Split-Dollar Insurance: A Gift Whose Time Has Past
In recent weeks, Charitable Reverse Split-Dollar Insurance has received a great deal of attention and is the subject of pending legislation that would prohibit it entirely. In this edition of Gift Planner's Digest, San Francisco attorney, Erik Dryburgh reviews the...
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Define: Intangible Personal Property

Intangible personal property is property that has no intrinsic value but is merely representative or evidence of value. Common examples include securities (both public and private), copyrights, royalties, patents, personal service contracts, installment obligations, life insurance and annuity contracts, and partnership interests.

Recent activity

The Hazards of Unmanaged Life Insurance Policies

"Thanks Bryan for the note. I am swamped right now but will put a tickler on this file to review your website and the individuals you suggested. We..." from Mark Larkin.
"Mark, I have done insurance audits for the last ten years or so (probably reviewed 2-3 thousand policies) and do qualified appraisals as well (see..." from BryanClontz.
"We have conducted reviews of the policies held by the non-profit organization I work for, however in our case we have had a couple of different..." from Mark Larkin.
"The article by Austin Barney seems to me to be very thorough and practical. I expect to use it in the future as a reference. However, I am writing to..." from Mike Wood.
"Very well written article. Just one note with respect to any concerns about the insolvency of the insurance company. Every state has a guaranty fund..." from johnbeekman.
"I agree, Blake. The guaranteed death benefit universal life (GDBUL) policies are stable, safe and reliable. It is for that reason that they are used..." from Douglas Delaney.
"Daniel, Thank you for your response. That is a very clear understanding of the charitable organizations role as a fiduciary in this sense. My..." from paulc91.
"Mr. Barney's statements about universal life insurance are correct, but only for policies sold before 2001 and some policies sold after 2000. Since..." from Blake Woodard.
"Charitable organizations may themselves be fiduciaries as well as their managers. Typically, every donor to a charitable organization expects the..." from Daniel Waugh.
"Mr. Barney is referring to a nonprofit as a fiduciary of an asset that has been "gifted" to the nonprofit. I agree with the logic that a nonprofit..." from paulc91.

Life Insurance: What's It Worth? (And Who Says?)

"I do not claim to be an expert in (i) life insurance policies or (ii) actuarial science. I am merely a tax attorney, and my practice covers barely..." from Bruce Givner.
"The gift tax value requires an actuary, why wouldn't you rely on the insurance company's valuation at the time policy ownership is changed? TRX" from Timothy Rioux.
"Liz Monty, Veriti Consulting, P.O. Box 10278, Scottsdale, AZ 85271-0278, LM@veriticonsulting.com; 602-229-1280 #204. Best regards." from Bruce Givner.
"Hello Bruce. Thanks for you comment. Can you recommend any good appraisers for estate and gift tax purposes? The people who wrote the article only..." from John Mee, Jr..
"Any transaction involving a life insurance policy should be done pursuant to an independent third party appraisal, whether or not an IRS rule..." from Bruce Givner.
"In appraising a life-insurance policy, unusual life-expectancy circumstances must sometimes be taken into consideration. For example. I am working..." from John Ryan.
"I think the rules are quite clear that insurance is a hard to value asset requiring an appraisal. Insurance values are more than cash value, cash..." from Vaughn Henry.
"Life insurance gifts have required an appraisal for many decades, if an existsing policy was contributed to charity, because it is a non-cash gift..." from Al Zimmerman.

AALU Seeks Safe Harbor for Valuation of Life Insurance Contracts

"As a follow up to Brian" from ALAN BREUS.
"This is a note I sent to Mr. Corry that I thought might be helpful to others as well as there are some particular points left out of his letter. And..." from Bryan Clontz.