You’re employed together with your shoppers to determine their philanthropic targets, the causes they need to assist, and essentially the most applicable autos for making charitable items. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it will probably undermine the influence of these items.
Some traps are straightforward to fall into, similar 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 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 be taught extra about what might go incorrect—and what you need to suggest that your shoppers do as a substitute.
Planning Forward
Many purchasers 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 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 must seek the advice of a authorized or tax skilled relating to your particular person scenario.