Supporting the causes you are passionate about—whether that’s giving back to your local community, making a social impact or showing gratitude to a hospital that cared for a loved one—can be enormously fulfilling. But did you know that charitable giving can also be a powerful financial tool?
A wealth management strategy
Leveraging your planned donations to benefit your overall wealth management goals is a shrewd strategy. Together, we can implement a plan that could positively impact your:
- Income taxes – You may receive an income tax deduction and the federal gift tax doesn't apply to charitable gifts.
- Estate planning – Reduce your taxable estate, creating a more substantial legacy for your loved ones.
- Investment portfolio – Diversify your investments without incurring immediate and substantial capital gains taxes.
- Annual income – Certain strategies may produce income that exceeds previous income flows.
Charitable giving wealth insights report
Promoting philanthropy with a donor advised fund
For clients who want to donate more than $100,000 of their income over a five-year period, they may opt to utilize a donor advised fund - a unique investment vehicle to give to charities over time while realizing current income tax deductions.
Getting started
If you would like to learn more about how we can make charitable giving an important part of your family legacy as well as your wealth management plan, please contact us today.
