December 10, 2006 at 02:00 PM
Tip Sheet
How Advisors Can Help Clients Realize Charitable Giving Goals
? Review clients’ tax returns to identify organizations to which they had previously contributed one-time gifts.
? Ask clients questions about the reasons underpinning their contributions.
? Help formulate a philanthropic mission statement.
? Inquire about the client’s interest in establishing a private family foundation or (for charitable contributions totaling less than $1 million) a donor-advised fund in lieu of a Charitable Remainder Trust.
? Discuss simpler methods of contributing, including an outright gift of the client’s life insurance policy.
? Form alliances with charities that are seeking planned gifts from their regular contributors.
Copyright © 2023 ALM Global, LLC. All Rights Reserved.
