You’re employed along with your purchasers to determine their philanthropic targets, the causes they wish 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, equivalent to mistakenly directing funds to a charity with a special but comparable title. 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 purchasers keep away from widespread charitable planning errors?
View this SlideShare to study extra about what might go unsuitable—and what you must advocate that your purchasers do as an alternative.
Planning Forward
Many purchasers right this moment wish to develop structured giving plans that not solely present potential tax advantages right this moment 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 crew to assist them suppose via 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. You need to seek the advice of a authorized or tax skilled relating to your particular person scenario.
