Around The Water Cooler this morning, we’re talking about “Generative Trusts” and taxes.

• Many in the trust field have long known of the work of “John A.” Warnick at The Purposeful Planning Institute.  His has long been a wise voice in the field.  If you are not aware of John A.’s work or The Purposeful Planning Institute, I encourage you to check it out.  John A. recently published an excellent piece on Generative Trusts and Trustees as a guest blogger on Holland and Hart’s Fiduciary Law Blog.  As John A. writes, a generative trust is one that could start out with, in the words of Jay Hughes, “This trust is a gift inspired by love, faith and hope.  The paramount purpose of this trust is to nurture the growth and well-being of the beneficiaries.”
• And now, taxes:
  • At Bryan Cave’s Charity Law Blog, Kathleen Sherby offers her thoughts on planning techniques for IRA distributions to public charities in the wake of the tax reform legislation.
  • Jeff Sayers discusses the “65-day rule” for making trust distributions from complex trusts in the Grand Rapids Business Journal.
  • In Forbes, Tony Nitti provides a thorough look at the new 20% Qualified Business Income Deduction, a very complex provision of the recently enacted Tax Cuts and Jobs Act.