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  • 1.  Guidance on Tax Receipt for a Bequest Gift

    Posted 11-19-2024 10:27 AM

    Good morning, 

    We received a bequest gift from a donor's IOLTA (Interest on Lawyers' Trust Account). Should the tax receipt be sent to the attorney or to the individual's estate?

    Thank you for your guidance.



    ------------------------------
    Gwen Gentry
    University of the South
    gfgentry@sewanee.edu
    ------------------------------


  • 2.  RE: Guidance on Tax Receipt for a Bequest Gift

    Posted 11-19-2024 10:34 AM
    An IOLTA is an account used to hold a client's funds. The money still belongs to the estate. The gift should go on the record of the now deceased individual.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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