You’re employed together with your shoppers to establish their philanthropic objectives, the causes they wish to assist, and essentially the most applicable autos for making charitable presents. Then your job is completed, proper? Not so quick. If the technique is poorly executed, it might undermine the impression of these presents.
Some traps are straightforward to fall into, equivalent to mistakenly directing funds to a charity with a unique but comparable title. Different errors might not be realized for a while, which can occur when establishing a donor-advised fund or a charitable the rest belief. So, how will you assist shoppers keep away from frequent charitable planning errors?
View this SlideShare to study extra about what might go flawed—and what it is best to suggest that your shoppers do as a substitute.
Planning Forward
Many purchasers at this time wish to develop structured giving plans that not solely present potential tax advantages at this time but additionally assist make a distinction for others tomorrow. By educating them on frequent charitable planning errors, you can execute their plans as supposed whereas fostering a trusting client-advisor relationship.
At Commonwealth, our advisors lean on the experience of our Superior Planning crew to assist them suppose by means of regulatory and tax-related penalties of charitable plans and different planning points. Be taught how one can put their information to be just right for you.
Heather Zack, JD, LLM, MSFP, CAP®, contributed to this text.
Commonwealth Monetary Community® doesn’t present authorized or tax recommendation. It is best to seek the advice of a authorized or tax skilled relating to your particular person state of affairs.
