You’re employed together with your purchasers 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 completed, proper? Not so quick. If the technique is poorly executed, it could undermine the impression of these presents.

Some traps are simple to fall into, comparable to mistakenly directing funds to a charity with a special 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 will you assist purchasers keep away from widespread charitable planning errors?

View this SlideShare to study extra about what may go mistaken—and what it is best to suggest that your purchasers do as an alternative.

Planning Forward

Many purchasers right this moment need to develop structured giving plans that not solely present potential tax advantages right this moment but in addition assist make a distinction for others tomorrow. By educating them on widespread charitable planning errors, you can execute their plans as meant whereas fostering a trusting client-advisor relationship.

At Commonwealth, our advisors lean on the experience of our Superior Planning group to assist them assume by means of 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. You must seek the advice of a authorized or tax skilled relating to your particular person state of affairs.