Law Office of Jonathan Ackerman, LLC Newsletter
Volume 6.1 -
The Law Office of Jonathan Ackerman, LLC
will continue releasing video vignettes on substantive topics of interest to nonprofit organizations and their officers, directors, trustees, volunteers, and donors.
Each recent Newsletter includes a link to a video on topics of interest to nonprofit organizations, such as conflicts of interest, fiduciary duties and liabilities, gift acceptance guidelines, and various issues relating to the creation and maintenance of an endowment, among others. 
Video - The Importance of Creating Gift Acceptance Guidelines and Policies for a Charitable Organization 
The next two videos relate to individuals who
have responsibility for the oversight and operation of a charitable organization. These videos present fundamental concepts of importance to anyone who is currently serving, has served, or is thinking about serving as a director, trustee, officer, or committee member of a charitable organization.
The first video discusses why a charity should adopt gift acceptance guidelines & policies.  
Gift Acceptance Guidelines - Why a Charity Should Adopt Them 
Gift Acceptance Guidelines - Why a Charity Should Adopt Them
The second video provides a very brief, but effective, description of a charity's mission statement.

Mission Statement for a Charity
Mission Statement for a Charity
These videos are for informational purposes only and do not constitute legal or tax advice on any matter.
Visit to learn more about Jonathan's law practice.
These videos are extracted from - and represent a small portion of - the full educational videos created in the GetGoodGovernance (G3) offering for nonprofit organizations. Visit to learn more about this online and interactive governance policy production and implementation process.
Nonexempt Charitable Trust - Issues & Answers - Part I
This article was first published in Planned Giving Today, June 2019, Volume 30, Number 6, as slightly revised by its Editor -

Scene - While you calmly gaze out of your charity's office window at a beautiful sunny day, you suddenly wince with pain as you look down at a deep and pulsing paper cut from an envelope that you were opening.
As you manage through the sting, you pull the letter out of the blood laced envelope. It's from a law firm and includes a six figure check made payable to your institution. The letter states that this check represents a payment from a trust, and you should expect to continue receiving an annual check from the trust.
At this point, the excitement from the contents of this letter overwhelms any sting or loss of blood.
So now what?
You wonder what type of payment this could be - a distribution from a private foundation, a charitable lead trust, or some other type of trust.
After contacting the law firm, you find out that the trust was created at the death of one of your donors and will exist in perpetuity. The trust will make an annual payment of income to your institution. You were a bit surprised, as this particular donor had always stated that she had planned on making an outright bequest to your institution with certain broad use restrictions which were well within your charitable mission.
At your request, the attorney said that he would send over a copy of the testamentary trust for your files. Upon receipt, you send it to your tax counsel, and she sends you back the following response:
"It is likely that this trust constitutes, what's been referred to as, a nonexempt charitable trust ("NECT"). Technically speaking, Section 4947(a)(1) of the Internal Revenue Code of 1986, as amended ("Code"), provides that trusts meeting the following conditions are treated as "charitable trusts" under the Code:
(i) trusts that are not exempt from tax under Code Section 501(a), 
(ii) all of the unexpired interests in which are devoted to one or more religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals,  and (iii) contributions, bequests, and gifts to which were allowed as deductions for  income, estate, or gift tax purposes.  [more...

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Jonathan Ackerman, Esquire
Law Office of Jonathan Ackerman, LLC
Copyright 2019 Law Office of Jonathan Ackerman, LLC
Disclaimer - The material in this Newsletter (including the attachments hereto) is provided for informational purposes only and does not constitute legal or tax advice on any matter. Law Office of Jonathan Ackerman, LLC assumes no responsibility for the accuracy or timeliness of any information provided herein. This information is not a substitute for obtaining legal or tax advice from the reader's own counsel, based upon their own particular set of circumstances. Charitable Registry, LLC is not a law firm and does not render legal advice of any kind.

Jonathan welcomes you to his firm's Newsletter, Volume 6.1, featuring video vignettes
Jonathan briefly describes his work with charities & in charitable gift planning
Some Happenings

In 2019, Jonathan became a member of the Editorial Board of the national publication, Planned Giving Today.

Asset Protection for a Married Couple - Investment & Brokerage Accounts

A married couple can take title to property in a number of different ways, each having its own implications. For instance, a married couple can own assets as 'tenants in common', as 'joint tenants', and as 'tenants by the entireties', and these three titling designations have different legal implications. However, a broad discussion about those titling differences is beyond the scope of this article.
What if one spouse takes title to property in his or her sole name? Such property, either real (like, a personal residence) or personal (like, a bank or brokerage account), will be subject to the claims of the creditors of that spouse. In addition, when that spouse dies, that property will pass pursuant to the terms of that spouse's Last Will & Testament, or the laws of intestacy if that spouse does not have a Will, and correspondingly will become a part of that spouse's probate estate [ more...]

See upcoming Firm Newsletter, Volume 6.2 to be released December, 2019, for a description of the general differences between the probate and nonprobate estate.


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