You’re employed along with your purchasers to determine their philanthropic targets, the causes they need to assist, 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, comparable to mistakenly directing funds to a charity with a distinct 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 purchasers keep away from frequent charitable planning errors?
View this SlideShare to be taught extra about what may go unsuitable—and what it’s best to suggest that your purchasers do as an alternative.
Planning Forward
Many consumers at this time need to develop structured giving plans that not solely present potential tax advantages at this time 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 crew to assist them assume by regulatory and tax-related penalties of charitable plans and different planning points. Study how one can put their data to give you the results you want.
Heather Zack, JD, LLM, MSFP, CAP®, contributed to this text.
Commonwealth Monetary Community® doesn’t present authorized or tax recommendation. It’s best to seek the advice of a authorized or tax skilled concerning your particular person state of affairs.
