A pandemic couldn’t stop the Community Foundation of Broward’s Professional Advisors Council from a chance to learn more ways to make a bold impact for their clients.
The Professional Advisors Council is an elite group of attorneys, accountants and financial advisors who have referred clients who create charitable Funds at the Community Foundation. And on May 13 the council held its first ever virtual meeting.
During the invitation-only video conference, more than two dozen council members learned the latest about the Community Foundation’s coronavirus response. At a safe social distance, council members got an inside look at how endowed charitable Funds at the Foundation are helping provide food, rent assistance, medical care, counseling and much more to Broward residents struggling during the coronavirus crisis.
“The ability to do these things really starts in most cases with a professional advisor who recognizes that they have a client who wants to help and they make a warm referral to the Community Foundation,” said Council Chairman Kurt Zimmerman, an estate attorney and Foundation Board Member.
In addition to the crisis-response update, the council meeting featured a chance for members to receive continuing education credits thanks to an expert presentation about SECURE Act solutions. James B. Davis, Esq., and Frederick Brackin, Esq., both of the Gunster law firm, discussed the effects of this new federal law on estate planning:
- They shared insights into how the SECURE Act, which took effect Jan.1, has changed the commencement and timing of required minimum distributions.
- They explained how “Stretch IRA” distributions over a beneficiary’s life expectancy have been eliminated, with a few exceptions.
- They explored the effect of the new law on charitable giving. For example, if an IRA owner is interested in philanthropy, an income tax-friendly alternative may be to name a nonprofit as a beneficiary or to designate a charitable remainder annuity trust as the IRA beneficiary.
Opportunities to hear from experts about the latest changes in estate planning law is one of the benefits for professional advisors who partner with the Community Foundation to help meet their clients’ charitable goals.
To learn more about the benefits of joining our Professional Advisors Council, contact Senior Director of Philanthropic Services Mark Kotler at firstname.lastname@example.org or 954-761-9503.