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GUIDING YOU TO FINANCIAL FREEDOM

Charitable Planning

Don't judge each day by the harvest you reap, but by the seeds you plant. ~Robert Louis Stevenson


Charitable planning has many benefits. Donations help promote family values and social responsibility. There are also income and estate tax benefits. If planning is done early enough, charitable gifts can be be set up in a way that they produce retirement income as well. While each situation is unique, and the strategies vary per client, here are some examples: 

  • Gifting low-basis stock to a qualified charity 
  • IRA Required Minimum Distributions to a qualified charity
  • Donor Advised Funds for charitable giving
  • First-to-die and second-to-die life insurance gifts to charity
  • Charitable Remainder Trusts to generate retirement income and leave a legacy. 

All of these options, however, require planning. While most deductions will be taken right away, as the donations may be small, more substantial donations will have effects that could last for years or even decades. Charitable giving needs to be part of your big picture financial plan if you want it to have the most benefit.

Learn more: 

Kiplinger's: How to Make Investing More Meaningful

Kiplinger's: Gifting a Life Insurance Policy to a Charity