Sentences with phrase «outright gift»

Real property can make a significant outright gift or a deferred gift in which the owner can remain on the property through his or her lifetime.

The most common forms of giving are outright gifts of cash and securities, but there are other types of assets that may be donated as well and planned giving options that have favorable financial and tax benefits.

In anticipation of the McGlothlin wing opening and the publication of the accompanying American collection catalogue, the McGlothlins made their first outright gift of art — William Merritt Chase's Wounded Poacher (1878).

In addition, Dwan donated two outright gifts of sculpture — Robert Smithson's Glass Stratum (1967), and Non-Site # 1 (Pine Barrens, New Jersey)(1968), as announced by the National Gallery of Art in July 2013.

Friends and family members will inevitably say they are «giving» you money for your business, but rarely do they mean to make you an outright gift in the legal sense.

She then introduced Redstone's sworn testimony in 2009, where he called the 1972 stock transfer «an outright gift.»

The second most popular source of money to start a business is family and friends who are often willing to provide a start - up loan or even sometimes make an outright gift to help you get your new enterprise off the ground.

Or is an outright gift sometimes better?

We can prayerfully think about an outright gift, a loan or maybe what is best is prayer and encouragement.

A central point of debate is whether an ethics reform bill should severely restrict the amount of money lobbyists can spend wining, dining, and escorting members of Congress around the globe, or whether these expenditures and outright gifts should continue to be allowed as long as they are fully disclosed.

In your case, it could likely be argued that the gift of half of your mother's condo and cottage was not an outright gift, but rather, a case of a resulting trust.

«An outright gift of the cash investment is acceptable if the donor is the borrower's relative, the borrower's employer or labor union, a charitable organization, a governmental agency, or public entity that has a program to provide home ownership assistance to low - and moderate - income families or first - time home buyers, or a close friend with a clearly - defined and documented interest in the borrower.»

An outright gift to a child who is 18 years or older — or anyone other than a spouse or common - law partner — is not subject to this rule.

With a policy in place, you can then change ownership to the college or university, thereby making an outright gift.

This, too, constitutes a rebate on those purchases, rather than an outright gift that you have to report as income.

In addition to outright gifts, planned giving offers a way to make larger gifts than you might otherwise be able to do.

It would amount to an outright gift and if you or your brother had a marriage breakdown, creditor issues or just wanted to sell the house, poor Dad could be out on the street — literally.

First, you can take a lump sum (such as $ 10,000) that could otherwise be given as an outright gift to the child or grandchild.

Making an outright gift of a paid - up insurance policy: Another option is to donate your paid - up life insurance policy to Best Friends.

Best of all, our Gift Annuity has allowed us to make a larger gift to American Humane Association than we would ever have been able to make in an outright gift or through our estate.

You can give an outright gift of cash, securities or personal property and designate it for transfer to SAAC.

The Pension Protection Act of 2006: If you are 70 - and - one - half years or older, you can make an outright gift to Mostly Mutts Animal Rescue by transferring funds directly from your individual retirement account (IRA) without paying federal income taxes on the distribution.

An outright gift of cash or appreciated property is an easy and wonderful way to contribute to the work of Mostly Mutts Animal Rescue.

Some people choose to give an outright gift of cash in one lump sum, while others choose to spread their donation out over time by pledging an amount and indicating the time frame in which they want to give.

You can also make an outright gift of a paid - up insurance policy.

Please note, a donation is not a loan or consignment; it is an outright gift to Greenhill Humane Society.

Appreciated Stock If you own appreciated stock, your outright gift to the Museum could mean significant tax savings.

It was widely anticipated that billionaire businessman and philanthropist Eli Broad, who is on ARTnews» list of the Top 200 Collectors, would make an outright gift of his highly prized modern and contemporary art collection to one or more fortunate museums.

In addition to outright gifts, the Newark Museum welcomes bequests and promised gifts of art.

In addition to outright gifts, we welcome bequests and promised gifts of art.

Collectors can give works of art to the Ogden Museum of Southern Art: As an outright gift As an irrevocable promised gift As a bequest As the gift of a percentage of value over a time period designated by the giver

NEW YORK — It was widely anticipated that billionaire businessman and philanthropist Eli Broad, who is on ARTnews» list of the Top 200 Collectors, would make an outright gift of his highly prized modern and contemporary art collection to one or more fortunate museums.

«Most spectators at the hearing seemed to think that counsel for the revenue faced some particularly tough questioning on his contention that the settlement was not covered by the «outright gift» provision in TA 1988, s 660A (6), whereas counsel for the taxpayer had most difficulty persuading their Lordships that there was no settlement that fell within the legislation at all.

That led to the question of whether or not the taxpayer fell within the exception created by s 660A (6), namely where one spouse made an «outright gift» to the other of the property from which the income arose.

A transfer of shares entitling a spouse, inter alia, to dividends in a company owned by her and her husband and used as a vehicle to offer the husband's services may constitute an «outright gift» for the purposes of s 660A (6) of the Income and Corporation Taxes Act 1988 (ICTA 1988).

For the last 20 — 30 years lawyers have become familiar with the four main types of trust which typically arise in wills: - accumulation and maintenance (A&M) trusts; - trusts with an interest in possession (life interest trusts); - trusts without an interest in possession (discretionary trusts); and - bare trusts (not really a trust at all and treated as an outright gift).

Perhaps you can't afford a $ 500,000 outright gift, but you can pay $ 10,000 per year.

First, you can take a lump sum (such as $ 10,000) that could otherwise be given as an outright gift to the child or grandchild.

The generation - skipping transfer tax (GST) imposes a tax of 40 % on both outright gifts and transfers in trust to or for the benefit of unrelated persons who are more than 37.5 years younger than the donor, or to related persons more than one generation younger than the donor.