Since 1980 Gregory D. Hyde has focused his law practice on estate planning with an emphasis on charitable giving. It was through this work that he got connected with the Community Foundation of Greater Birmingham as a professional advisor. Hyde was recently honored at the Alabama Chapter of the Association of Fundraising Professionals’ National Philanthropy Day as the Community Foundation of Greater Birmingham Outstanding Professional Advisor.
In addition to his work with the Community Foundation, Hyde is also a past president of the Alabama Planned Giving Council, past chairman and member of the University of Alabama Planned Giving Advisory Committee, and current member of the President’s Cabinet at the University of Alabama. Hyde has been listed in “The Best Lawyers in America®” and “Super Lawyers” in the areas of Trusts and Estates but says being recognized by the Community Foundation was a highlight moment.
“It means so much to me at this point in my career,” Hyde says. “I’m 73 years old, and I don’t want to use the word ‘retirement,’ but I am nearing the end of my legal career. So to get a reward like this is just fantastic.”
Hyde grew up in Florence, Alabama, but has been in Birmingham since 1980 and considers the Magic City home. We talked with Hyde about his work, the importance of charitable giving, and the role that philanthropy plays in improving a community.
How did you get interested in estate planning and what inspired you to work with the Community Foundation as a professional advisor?
As a lawyer, I never wanted to be a litigator, but I wanted to do tax law. So after I graduated (Hyde has degrees from the University of Alabama and New York University), I went with a large firm in Birmingham that had a lot of tax lawyers. That’s where I got my initial experience working with clients on estate planning, and that is what I’ve been doing since 1980 – for almost 45 years.
I was first introduced to the Community Foundation in the early 1980s by Peggy Spain McDonald (the first executive director of the Community Foundation). I’ve worked with them since then, for the last 40 years, in what I consider to be my favorite area of the practice of law – we’re working with clients in their estate plans and carrying out their philanthropic goals.
I’ve referred clients to the Community Foundation, but they’ve also served as a sounding board. There may be a client who’s not necessarily going to work with the Community Foundation, but they may need some direction or some ideas on their philanthropic goals, and the Community Foundation has always been a great resource to my clients or me if I have any questions or need any information.
Why is helping people with their philanthropic goals a passion of yours?
There are so many needs out there. Being able to help clients support all these causes – whether it’s to feed the hungry, house the homeless, provide scholarship funds for students, or help veterans – it’s very satisfying. It’s important to help organizations that are out there doing the work and need the support.
What’s been the most challenging and the most rewarding parts of your career?
What’s rewarding in what I do in estate planning is just helping families develop good estate plans that carry out their wishes and help them pass their wealth to the next generation in an orderly fashion that minimizes taxes. The challenge is trying to stay current with all the law changes. Tax laws change annually, and they keep talking about simplification, but based on my experience, that is never going to happen or has not happened. Every time they mention simplification, watch out – it’s going in the opposite direction.
Though you’re a native of Florence, Alabama, you proudly call Birmingham home. What do you love about the city?
I like the size of Birmingham. It’s large enough, but not too large. It’s not like a huge metropolis like Atlanta with all the negatives that go with that such as traffic. It’s just the right size and the right climate. My wife and I lived in Orlando for four years and people rave about the Florida weather, but I would take Birmingham weather 10 months of the year because we get a good change of seasons here.
What is your hope for Birmingham?
I would like to see something done to deal with crime here. You watch the news — which I do every morning — and it’s always been another shooting the night before. I really hope something can be done about that, which is just a cancer on the community. Birmingham will make national publications saying it’s a dangerous city, which it’s really not. Some areas are, yes, but overall, I feel very safe in Birmingham, and I hate to see Birmingham get that negative publicity.
What does being recognized as the Community Foundation of Greater Birmingham Outstanding Professional Advisor mean to you?
I’m very proud to be recognized by the Community Foundation and I think they do an awesome job. Birmingham is very fortunate to have such a long-standing large charity that’s got the community’s best interest at heart.