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What is a Pooled Income Fund?2 mins
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The Benefits of a Pooled Income Fund11 mins
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Income Tax Consequences19 mins
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Why Use a PIF Instead of a CRT?32 mins
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Suggested Scenario Design49 mins
Published: February, 2022
Traditionally, a Pooled Income Fund is a trust that is established and maintained by a public charity. Individual donors pool their donations in the Fund and the Fund then assigns each donor “units of participation” based on that individual donor’s contributions to the Fund. At least annually, the Fund distributes the net investment income to the donors based on their units of participation for the duration of the donor’s life. After the donor’s death, the Fund’s assets attributable to that donor may be used by the charity for its charitable purposes.
Pooled Income Funds offer several advantages to participants, but the most important advantages include an immediate tax deduction, lifetime income payments, and the satisfaction of charitable goals.
In this online continuing education course learn how to use Pooled Income Funds (PIF) to provide an immediate partial tax deduction and a lifetime of income for your high-net-worth clients and their most important charitable organizations. PIFs have been part of the tax law since 1969 but, until recently, they have always been run by big charitable organizations. Now, a few savvy professionals have reinvigorated PIFs to make them more donor and advisor friendly. Further, low federal interest rates make the charitable income tax deduction for PIFs much greater than the Charitable Remainder Trust (CRT), to which they are closely related. Further, there are no constraints that prevent the PIF from naming multiple generations of income beneficiaries, allowing for some creative wealth transfer. This online CPE session will take you through the practical details of how and when to make PIFs pay-off for your clients and their key causes.
Key topics covered in this online CPE webinar:
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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Principal, Two Hawks Consulting, LLC
Randy A. Fox, CFP®, AEP® is the founder of Two Hawks Consulting, LLC. and a nationally known wealth strategist, philanthropic estate planner, educator and speaker. He is also the co-founder of EzCharitable, LLC, an online training resource for professional advisors who wish to expand their capabilities in philanthropic giving. Mr. Fox has authored hundreds of articles and presentations for attorneys, financial advisors, CPAs and HNW families. He is the Editor in Chief of Planned Giving Design Center, a national newsletter and website for philanthropic advisors. Mr. Fox attended Washington University in St. Louis where he studied Chinese and Political Science
Especially for the accounting, legal and financial planning experts serving ultra-high-net-worth clients and their closely-held, wealth-generating businesses, Two Hawks Consulting is the thought-leading advisor-to-the-advisors on advanced estate planning, charitable/philanthropic giving and business transition and succession planning. Two Hawks collaborates closely with specialized experts to conduct a comprehensive review of the client’s situation, to develop a custom plan design book with recommended solutions and timing, and to direct all legal, financial, accounting and insurance aspects of the plan. We also stay connected to closely monitor plan performance, review plans thoroughly at least once each year and update them as needed
618 Ratings
SS
Nov 6th, 2021
Very good presentation. Very interesting idea. I don't work with high net-worth individuals, so less practical for me, but still excellent and interesting.
MB
Dec 30th, 2021
Enjoyed the information on how PIFs actually work from the investment point-of-view, rather than donor relation view.
CL
Dec 14th, 2021
The instructors were great. I learned a lot and appreciated both the overview as well as how they dug in to examples.
SD
Oct 2nd, 2021
the method of learning was very helpful as I could use it as my time allowed
RP
Jul 28th, 2021
very good, helpful insight into the use of this planning technique
1 Credit
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