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You’re employed together with your purchasers to determine their philanthropic targets, the causes they need to help, and essentially the most acceptable automobiles for making charitable items. Then your job is completed, proper? Not so quick. If the technique is poorly executed, it will possibly undermine the impression of these items.
Some traps are simple to fall into, equivalent to mistakenly directing funds to a charity with a special 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 frequent charitable planning errors?
View this SlideShare to be taught extra about what may go incorrect—and what you need to suggest that your purchasers do as an alternative.
Planning Forward
Many consumers at this time need to develop structured giving plans that not solely present potential tax advantages at this time but additionally 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 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 concerning your particular person state of affairs.
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