Avoiding Widespread Charitable Planning Errors: A Information for Advisors

You’re employed together with your purchasers to establish their philanthropic targets, the causes they need to assist, and probably the most acceptable automobiles for making charitable presents. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it will probably undermine the impression of these presents.

Some traps are simple to fall into, reminiscent of mistakenly directing funds to a charity with a special but related title. Different errors will 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 purchasers keep away from frequent charitable planning errors?

View this SlideShare to study extra about what might go mistaken—and what you must advocate that your purchasers do as a substitute.

Planning Forward

Many consumers 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 can 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 assume by way of regulatory and tax-related penalties of charitable plans and different planning points. Be taught how one can put their information 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. You must seek the advice of a authorized or tax skilled concerning your particular person scenario.