You’re employed along with your shoppers to establish their philanthropic targets, the causes they need to assist, and probably the most applicable automobiles for making charitable presents. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it may possibly undermine the influence of these presents.

Some traps are simple to fall into, resembling mistakenly directing funds to a charity with a unique but comparable title. Different errors might not be realized for a while, which can occur when establishing a donor-advised fund or a charitable the rest belief. So, how will you assist shoppers keep away from widespread charitable planning errors?

View this SlideShare to be taught extra about what might go improper—and what it’s best to suggest that your shoppers 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 widespread 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 workforce to assist them suppose via regulatory and tax-related penalties of charitable plans and different planning points. Be taught 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 is best to seek the advice of a authorized or tax skilled concerning your particular person scenario.