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Representative Cases and Matters for Exempt Organizations

Surrogate's Court Litigation - Appellate Practice - Taxation - Interpretation of Decedent’s Will – Allocation of Estate Taxes

Matter of McKinney, 117 Misc. 2d 173 (Surr. Ct., Westchester 1982), affirmed, 101 A.D.2d 477 (2d Dep't 1984), mot. for lv. to appeal denied, 63 N.Y.2d 607

Sometimes, the tax apportionment clause - an often overlooked clause in a will - has a huge impact on the actual distributions under a will. In this case, Frank W. Streng and others at the firm successfully represented a major health care institution in a contested accouting proceeding in which we challenged the executors’ interpretation of the decedent’s tax apportionment clause in her Will. The charitable beneficiary would have been deprived of hundreds of thousands of dollars of its proper share of a multi-million dollar estate had the executors' interpretation been adopted. The lower court opinion was affirmed by the appellate court.


Charitable Gift Planning - Exempt Organizations - Charitable Split-Interest Trusts

Charitable Split-Interest Trusts - $30 Million Gift

McCarthy Fingar's Charitable Gift Planning lawyers work with clients to accomplish their charitable objectives in the most tax efficient fashion. Here, Philip T. Temple represented a family with a substantial art collection with charitable intentions. Phil developed a plan to make a charitable gift of the art collection through the use of charitable split-interest trusts, culminating in a $30 million bargain sale to a major university art museum while taking care of the family's needs.


Charitable Gift Planning - Exempt Organizations - Taxation - Private Letter Rulings from IRS

Split Interest Charitable Trusts - Private Letter Rulings from IRS

As part of our work, McCarthy Fingar's Charitable Gift Planning and Taxation lawyers sometimes seek a Private Letter Ruling from IRS to insure that a proposed transaction will receive the desired tax treatment for a client. Here, Phil Temple obtained Private Letter Rulings from IRS for major charitable clients regarding split-interest charitable trusts in order to insure that donors received a charitable deduction for a charitable gift.