You’re employed together with your purchasers to determine their philanthropic targets, the causes they wish to assist, and essentially the most applicable automobiles for making charitable presents. Then your job is completed, proper? Not so quick. If the technique is poorly executed, it may possibly undermine the affect of these presents.
Some traps are simple to fall into, similar to mistakenly directing funds to a charity with a unique but related 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 purchasers keep away from frequent charitable planning errors?
View this SlideShare to study extra about what may go mistaken—and what you must advocate that your purchasers do as a substitute.
Planning Forward
Many purchasers as we speak wish 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 frequent charitable planning errors, you’ll 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 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 need to seek the advice of a authorized or tax skilled concerning your particular person state of affairs.