Philanthropy is not only emotionally gratifying for many clients, but can be financially beneficial as well. Consider these questions to help start the discussion with your clients.

Did You Know?
In the past decade, charitable giving in the United States has grown 38% in inflation-adjusted dollars.*

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Key Takeaway

For philanthropically inclined clients, understanding the basic framework of charitable giving, including its benefits, is a great first step toward making impactful investment decisions.

Three Questions to Ask Your Clients

Help your clients understand the benefits of charitable giving by asking these questions to start the conversation.

Question

Are you charitably inclined?

Question

Are you charitably inclined?

Why Ask This?

If your client is charitably inclined, there is more than one way to donate. Three scenarios in which they may choose to donate include:

  • Charitable giving during their lifetime
  • Charitable giving while also generating income
  • Charitable legacy giving

Knowing the common approaches to donating can help your client begin to think about which scenario best fits their goals

Question

Are you interested in leaving a legacy?

Question

Are you interested in leaving a legacy?

Why Ask This?

Leaving a legacy is a great way to extend your client's charitable giving beyond their lifetime. Some solutions offer the opportunity to give to multiple beneficiaries and make grants to qualified organizations.

Question

Do you know what the tax benefits of charitable giving are?

Question

Do you know what the tax benefits of charitable giving are?

Why Ask This?

Clients can donate to the charities they believe in while potentially reducing their taxes. Potential tax advantages include tax deductions and avoiding capital gains tax.

Next Step

Start the discussion with your clients on ways to maximize philanthropic, legacy and tax planning goals.

KEEP LEARNING

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*Source: CCS Fundraising, Philanthropic Landscape Report 10th Edition, 2021, p. 3.

The Firm does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Tax laws are complex and subject to change. Investors should always consult their own legal or tax professional for information concerning their individual situation.