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You’re employed along with your shoppers to establish their philanthropic objectives, the causes they wish to assist, and essentially the most applicable automobiles for making charitable presents. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it might probably undermine the influence of these presents.
Some traps are straightforward to fall into, corresponding to mistakenly directing funds to a charity with a distinct but comparable identify. Different errors will not be realized for a while, which can occur when organising a donor-advised fund or a charitable the rest belief. So, how are you going to assist shoppers keep away from frequent charitable planning errors?
View this SlideShare to be taught extra about what may go fallacious—and what you need to advocate that your shoppers do as an alternative.
Planning Forward
Many purchasers at present wish to develop structured giving plans that not solely present potential tax advantages at present but in addition assist make a distinction for others tomorrow. By educating them on frequent 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 way of regulatory and tax-related penalties of charitable plans and different planning points. Study 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. You must seek the advice of a authorized or tax skilled concerning your particular person state of affairs.
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