The Limitations of a Religious Nonprofit

If you are starting your own religious nonprofit organization, you may believe much of your legal and financial trouble is over once you’ve received your tax-exempt nonprofit status. However, things aren’t that simple, because your nonprofit status is conditional on meeting certain basic requirements. And if you’re not careful and run afoul of the limitations on religious nonprofit corporations, your nonprofit status, and all its advantages, could be put in danger. Continue reading “The Limitations of a Religious Nonprofit”

Limited Inventory Plus High Demand Equals Higher Housing Prices

People seeking a home in New York are finding it increasingly difficult to find an available home. A combination of limited available homes plus growing demand for those homes means housing prices are being driven up across the board, even as interest rates for mortgages remain at record lows. Even luxury properties are rising in value, despite their higher associated cost, as more prospective homeowners compete for the limited inventory. Continue reading “Limited Inventory Plus High Demand Equals Higher Housing Prices”

Considering the Benefits of a Testamentary Trust

As you grow older, planning your estate becomes increasingly important, especially for anyone with substantial assets that will need to be distributed once they pass on. While most people focus on writing a will when thinking about estate planning, there are other options available that can help you manage your assets and ensure they pass down to your loved ones when you’re gone. For example, some may wish to consider the potential benefits of a testamentary trust when planning their estate. Continue reading “Considering the Benefits of a Testamentary Trust”

Why Ask For Disinterment

When you bury your loved ones, most of the time you do so with the intent that they remain where they are buried forever. However, sometimes circumstances arise where it becomes necessary to disturb our loved one’s final rest, and remove them from their grave, at least for a time. When that happens, it becomes necessary to ask for a disinterment. Continue reading “Why Ask For Disinterment”

Supreme Court to Hear Challenge to Ministerial Exception

The United States Supreme Court ruled in 2012 that there was a “ministerial exception” to discrimination laws, protecting religious organizations from any discrimination suit brought by an employee classified as a “minister.” While this is convenient for religious institutions who are protected from the risk of being sued for employment discrimination, this is less so for the employees who might otherwise be protected. Now, two suits are heading to the United States Supreme Court that could test the legality and limits of this exception. Continue reading “Supreme Court to Hear Challenge to Ministerial Exception”

Free Exercise of Religion by Closely Held Corporations

The First Amendment of the United States Constitution states that “Congress shall make no law respecting an establishment of religion, nor prohibiting the free exercise thereof.” While it is obvious this applies to natural persons (in other words, living human beings), the Supreme Court ruled in Burwell v. Hobby Lobby Stores, Inc. that, in some cases, it can also apply to closely held corporations. Although it has been half a decade since the case was decided, the exact implications of Hobby Lobby remain loosely defined. Continue reading “Free Exercise of Religion by Closely Held Corporations”

What Does it Mean to Be Tax-Exempt?

Tax-exempt charitable corporations are a surprisingly common part of American life. Most churches, colleges, libraries and charities are organized as tax-exempt charitable corporations, free from the burden that an income tax imposes on most people and businesses. However, being tax-exempt doesn’t mean you’re entirely free of obligations, and if you’re not careful, your tax-exempt corporation could find its status stripped, exposing it to massive financial liability. Continue reading “What Does it Mean to Be Tax-Exempt?”

Why You Should Consider a Residuary Clause

When you write your last will and testament, there are many things you need to keep in mind. You need to keep track of all your property so it can be properly dispensed to your heirs, you need to decide who will inherit, and you need to make sure your will is reasonably up to date. However, even someone who is diligent about updating their will can miss things, which is why a residuary clause can be so helpful. Continue reading “Why You Should Consider a Residuary Clause”

Reasons to Consider a Living Will

It is difficult enough to discuss what will happen when we pass on, but it can be even more difficult to discuss what should happen if we become incapacitated while still alive. Despite this, however, that possibility is always present, and it is worthwhile to examine what options you can take to prepare yourself and your loved ones for that possibility. One such option is known as the living will. Continue reading “Reasons to Consider a Living Will”

Reporting Requirements of Tax-Exempt Religious Entities

One of the most significant benefits of running a nonprofit religious organization is the tax-exempt status you can qualify for. However, that doesn’t mean you don’t need to worry about the IRS or tax authorities at all. It’s important for everyone, including tax-exempt entities, to be aware of their reporting requirements, lest they incur potential legal or financial liabilities. Continue reading “Reporting Requirements of Tax-Exempt Religious Entities”