Avoiding Widespread Charitable Planning Errors: A Information for Advisors

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You’re employed together with your purchasers to establish their philanthropic objectives, the causes they wish to help, and essentially the most acceptable automobiles for making charitable presents. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it could possibly undermine the impression of these presents.

Some traps are simple to fall into, similar to mistakenly directing funds to a charity with a unique 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 are you going to assist purchasers keep away from frequent charitable planning errors?

View this SlideShare to be taught extra about what might go flawed—and what it is best to suggest 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 additionally assist make a distinction for others tomorrow. By educating them on frequent charitable planning errors, you can 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 assume via regulatory and tax-related penalties of charitable plans and different planning points. Learn how you can put their knowledge to work 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.

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