It’s not all about tax implications.
By Anthony Glomski
A growing number of successful people like your clients want to have a major positive impact in their communities and on the world at large. Facilitating and increasing the effectiveness of charitable intent is very important to a burgeoning segment of high-net-worth investors.
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This area of advanced planning is all about helping your client fulfill their philanthropic goals – and maximizing the effectiveness of any charitable intent they may have. It’s very important to learn and use strategies that enable your client to give larger amounts than they would have been able to give otherwise. The actions involved in a charitable giving strategy include evaluating your client’s charitable options and determining how those options fit in with their other goals, such as retirement income needs and wealth transfer goals. Various trusts, funds, foundations and gifting methods – including private foundations, donor-advised funds, charitable remainder trusts and charitable lead trusts – are routinely used to ensure one’s giving has the maximum positive impact.
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