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Philanthropy Legalese

Philanthropy Legalese

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Philanthropy news, information and resources for professional advisors.

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What To Talk To Your Clients About Regarding Charitable Giving For The End Of The Year

What To Talk To Your Clients About Regarding Charitable Giving For The End Of The Year

In this episode of "Philanthropy Legalese," I delve into the essential conversations to have with clients about charitable giving as the year draws to a close. We begin by assessing philanthropic goals, ensuring that clients' charitable intentions align with their broader financial objectives. I then explore the various fund types available at community foundations, highlighting how these can be tailored to meet specific philanthropic aspirations. A significant portion of our discussion focuses on the advantages of donor-advised funds, which offer flexibility and strategic benefits for donors. We also examine how to maximize tax benefits through charitable contributions, providing insights into effective planning strategies. Beyond traditional cash donations, I introduce the concept of asset-based giving, which can include stocks, real estate, or other non-cash assets, offering potential tax advantages and greater impact. Engaging with philanthropic experts is another key topic, as their guidance can be invaluable in navigating the complexities of charitable giving. We conclude the episode by summarizing the importance of these discussions and encouraging proactive engagement with clients to optimize their philanthropic impact.