IRS Says Charitable Trust Not Charitable Enough

The decision in the case of the Estate of Arthur Schaefer made me realize that I had left something out of Reilly's Laws of Tax Planning. It was a caution about being too aggressive that we used to use at Joseph B Cohan and Associates, back in the day - "Pig's get fed. Hogs get slaughtered." (That brings the count to a nice prime eleven. Maybe I will stop). For some clients our managing partner, Herb Cohan, would say "Don't be a chazzer".