Wednesday, April 17, 2024
HomeWealth ManagementAvoiding Widespread Charitable Planning Errors: A Information for Advisors

Avoiding Widespread Charitable Planning Errors: A Information for Advisors


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

Some traps are simple to fall into, corresponding to mistakenly directing funds to a charity with a distinct but comparable 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 study extra about what may go flawed—and what you need to suggest that your purchasers do as an alternative.

Planning Forward

Many consumers at present wish to develop structured giving plans that not solely present potential tax advantages at present but in addition 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 group to assist them suppose 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 relating to your particular person state of affairs.



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