RUSSELL A WILLIS
Until recently based in Portland, Oregon, now transplanted to Tucson, Arizona, Russ works as a freelance paralegal consultant with nonprofits, donors, and their advisors in structuring charitable contributions of closely held business and real property interests, so as to serve the mutual advantage of all parties. He also provides legal research and advice on income and transfer tax planning more generally, and writes the occasional trial or appellate brief. For ten years, Russ was a writer and editor for a subscription website that provided daily coverage and in-depth analysis of developments in tax law affecting charitable gift planning. More recently he has launched his own newsletter, the "Jack Straw Fortnightly," back issues of which are posted to his website, https://www.plannedgiftdesign.com/. Russ has spoken at any number of national and regional conferences, and to locally planned giving roundtables, community foundations, and bar associations. Some of his recent papers are also posted to his site. Russ has an undergraduate degree in English literature from Indiana University in Bloomington and a master's in English from the University of Chicago. He earned his J.D. at St. Louis University and his master's in taxation law at Washington University in St. Louis, Missouri, where he practiced law for more than twenty years.
Russell A Willis
November 20 2019
01 : 00 PM EDT
Often the settlor of a charitable remainder trust or a gift annuity will want to provide an income benefit for someone other than herself -- a spouse or a child or a sibling, even a parent. Complications may arise if the annuity or unitrust interest is not immediate, or if it otherwise does not qualify for a marital deduction, or if the present value of the "income" stream exceeds the gift tax annual exclus..