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Friday, July 12, 2024

Avoiding Widespread Charitable Planning Errors: A Information for Advisors


You’re employed along with your shoppers to establish their philanthropic objectives, the causes they need to assist, and probably the most acceptable autos for making charitable presents. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it might probably undermine the affect of these presents.

Some traps are simple to fall into, reminiscent of mistakenly directing funds to a charity with a special 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 shoppers keep away from frequent charitable planning errors?

View this SlideShare to study extra about what may go unsuitable—and what it is best to suggest that your shoppers do as a substitute.

Planning Forward

Many consumers right this moment need to develop structured giving plans that not solely present potential tax advantages right this moment but in addition 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 crew to assist them suppose by way of regulatory and tax-related penalties of charitable plans and different planning points. Be taught 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 relating to your particular person scenario.



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