You’re employed along with your purchasers to determine their philanthropic targets, the causes they need to help, and probably the most applicable automobiles for making charitable items. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it could undermine the affect of these items.
Some traps are straightforward to fall into, akin to mistakenly directing funds to a charity with a distinct but related title. Different errors is probably not realized for a while, which can occur when organising a donor-advised fund or a charitable the rest belief. So, how will you assist purchasers keep away from widespread charitable planning errors?
View this SlideShare to study extra about what might go incorrect—and what you must advocate that your purchasers do as a substitute.
Planning Forward
Many purchasers as we speak need to develop structured giving plans that not solely present potential tax advantages as we speak but in addition assist make a distinction for others tomorrow. By educating them on widespread charitable planning errors, you’ll execute their plans as supposed whereas fostering a trusting client-advisor relationship.
At Commonwealth, our advisors lean on the experience of our Superior Planning group 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 give you the results you want.
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 concerning your particular person scenario.
