Charitable Giving - Total Wealth Planning

Charitable Giving

Strategic Planning for Charitable Giving

Philanthropy often provides people with great personal satisfaction and health benefits. Through comprehensive financial planning, we find the desire to help others is important. It provides individuals and families with a sense of self-worth and accomplishment.

Charitable giving can also play an important role in tax planning, through current income tax deductions, avoiding capital gains taxes on highly appreciated assets, or reducing the taxation from required minimum distributions. Charitable giving can also be a component of your overall estate plan, reducing the amount of estate taxes owed upon your death.

Outright gifts, of cash or securities, directly to charities each year can benefit the charity immediately and provide the donor with an immediate tax deduction. There are strategies to utilize a Donor Advised Fund to accelerate immediate tax benefits for potential future lifetime gifting.  At Total Wealth Planning, we work comprehensively with our charitably inclined clients to set specific charitable goals and objectives. We develop a charitable giving program that not only meets their charitable goals, but also is the most cost effective and tax beneficial way to give.