You’re employed along with your shoppers to determine their philanthropic targets, the causes they wish to help, and probably the most applicable automobiles for making charitable presents. Then your job is completed, proper? Not so quick. If the technique is poorly executed, it might probably undermine the affect of these presents.
Some traps are straightforward to fall into, reminiscent of mistakenly directing funds to a charity with a distinct but related identify. 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 shoppers keep away from widespread charitable planning errors?
View this SlideShare to be taught extra about what may go incorrect—and what you need to suggest that your shoppers do as a substitute.
Planning Forward
Many consumers right now wish to develop structured giving plans that not solely present potential tax advantages right now but additionally assist make a distinction for others tomorrow. By educating them on widespread charitable planning errors, you can execute their plans as meant 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. Study 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’s best to seek the advice of a authorized or tax skilled relating to your particular person state of affairs.