Saturday, April 13, 2024

Avoiding Frequent Charitable Planning Errors: A Information for Advisors


You’re employed along with your shoppers to determine their philanthropic targets, the causes they wish to help, and essentially the most applicable automobiles for making charitable items. Then your job is finished, proper? Not so quick. If the technique is poorly executed, it might probably undermine the affect of these items.

Some traps are straightforward to fall into, equivalent to mistakenly directing funds to a charity with a distinct but related title. Different errors is probably not realized for a while, which can occur when establishing a donor-advised fund or a charitable the rest belief. So, how are you going to assist shoppers keep away from frequent charitable planning errors?

View this SlideShare to study extra about what may go flawed—and what you must advocate that your shoppers do as an alternative.

Planning Forward

Many consumers immediately wish to develop structured giving plans that not solely present potential tax advantages immediately 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 regulatory and tax-related penalties of charitable plans and different planning points. Study how one can put their information to be just right for you.

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.



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