Charitable giving can be one of the most meaningful parts of a wealth plan.
For affluent families, business owners, incorporated professionals and executives, giving can support causes you care about and also connect to tax planning, estate planning, wealth transfer and family values.
Giving that fits your life
Generosity can fit into the rest of your financial plan. The secret is that the right plan can help you give well without losing sight of your own long-term needs.
That means looking at:
- How much you want to give
- When gifts should happen
- Which assets may be best to donate
- How giving affects tax planning
- How charity fits with retirement income
- How your estate plan can support future gifts
- How children or grandchildren may be involved
Tax-smart charitable giving
Charitable giving can create important tax planning opportunities when it’s structured carefully.
Depending on your situation, strategies may include donor-advised funds, gifts of appreciated securities, charitable bequests, life insurance or planned giving through your estate.
The goal is to help more of your gift reach the causes you care about while keeping the rest of your wealth plan organized.
A family conversation
Giving can also help families talk about values.
For parents, charitable planning can create a natural way to discuss responsibility, legacy and what wealth is meant to support.
