You’re employed together with your shoppers 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 finished, 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, akin to mistakenly directing funds to a charity with a special but related title. Different errors might not be realized for a while, which can occur when organising a donor-advised fund or a charitable the rest belief. So, how will you assist shoppers keep away from widespread charitable planning errors?
View this SlideShare to study extra about what might go unsuitable—and what you need to advocate that your shoppers do as an alternative.
Many purchasers as we speak need to develop structured giving plans that not solely present potential tax advantages as we speak but additionally 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 group to assist them assume 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 concerning your particular person scenario.
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