Legacy Planning. It's the practice of helping your clients think about a multiple generation impact beyond financial. Much of financial and estate planning practice focuses upon tax avoidance and financial wealth transfer. But what would happen if we helped our clients begin thinking much earlier how they can build a lasting legacy of values, of virtues, of stories that impact future generations to come? The legal, accounting, financial planning and technical aspects are part of the plan but go much deeper. This session will cast a vision for the power of legacy planning, how to implement it practically in your work, and measurable outcomes.
Attendees will learn how to:
- Understand the different tax deduction rules for gifting through non-grantor trusts and estates.
- Understand how existing irrevocable trusts may add a charitable component for better tax results.
- Understand the unique "quasi-UBTI" rules when irrevocable trusts with business income give to charity.
William High, JD, President, Ignite Consulting, Overland Park, KS
William (Bill) High is the President of Ignite Consulting, a family legacy consulting firm. Bill has worked with families across the country in helping them design multiple generation legacy plans. Legacy planning focuses upon multiple generation impact through family assessments, family compass settings and practical implementation.
Bill’s legacy planning work grew out of his work with the National Christian Foundation Heartland, now known as The Signatry, where he is still the Chief Executive Officer. With The Signatry, he’s been part of overseeing their efforts from startup to now close to $3 billion in contributions. In particular, he works with families, individual givers, ministries and financial advisors. As a particular point of emphasis, he works with business owners who are selling their business and business owners transitioning their business to the next generation, as well as teaching ministries how to work with major donors.
Prior to founding The Signatry in 2000, Bill was a partner with the law firm of Blackwell Sanders LLP, a national and international law firm. He is also the founder of iDonate.com, a fundraising software company serving the non-profit community. iDonate.com provides an online marketing solution for non-profits to market and receive gifts of all kinds, including cash, text, credit card and non-cash gifts. He also helped found FamilyArc.com, an online family legacy website for individual families.
He co-authored with David Green, CEO and Founder of Hobby Lobby Giving It All Away…And Getting It Back Again: The Way of Living Generously. This book addresses family legacy, family generosity and building vision, mission and values for the family. The book is available at all Barnes & Noble, Books A Million, Hobby Lobby and online.
Bill is a published author and conference speaker. He is the author Stories of the Generous Life. Ordinary People. Extraordinary Generosity, and its sequel, The Generosity Bet. He’s a contributing author to Why the Conservative Mind Matters and unHeritage: 11 Pitfalls to Family Legacy and How to Avoid Them.
He has been recognized as one of the Top 25 Philanthropy Speakers in the country by Philanthropy Media.
Bill has been married to his wife Brooke for more than 30 years. They have four children, two sons-in-law, two grandchildren, and a miniature dachshund.