You’re employed along with your shoppers to establish their philanthropic objectives, the causes they need to assist, and probably the most acceptable automobiles for making charitable items. Then your job is finished, 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, resembling mistakenly directing funds to a charity with a distinct but comparable identify. Different errors is probably not realized for a while, which can occur when establishing 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 study extra about what may go mistaken—and what it is best to suggest that your shoppers do as a substitute.
Planning Forward
Many purchasers right now need to develop structured giving plans that not solely present potential tax advantages right now but in addition assist make a distinction for others tomorrow. By educating them on frequent charitable planning errors, you can execute their plans as meant whereas fostering a trusting client-advisor relationship.
At Commonwealth, our advisors lean on the experience of our Superior Planning staff to assist them suppose by way of 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. It is best to seek the advice of a authorized or tax skilled concerning your particular person state of affairs.
