You’re employed along with your shoppers to establish their philanthropic targets, the causes they wish to help, and probably the most applicable automobiles for making charitable items. Then your job is completed, proper? Not so quick. If the technique is poorly executed, it may possibly undermine the impression of these items.
Some traps are straightforward to fall into, corresponding to mistakenly directing funds to a charity with a unique but comparable 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 shoppers keep away from frequent charitable planning errors?
View this SlideShare to be taught extra about what may go fallacious—and what it is best to suggest that your shoppers do as an alternative.
Planning Forward
Many purchasers right now wish 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’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 staff 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 data 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 must seek the advice of a authorized or tax skilled relating to your particular person state of affairs.