Charitable Giving

Many of our clients have enriched their family’s legacy through charitable giving. We can help you develop a plan that allows you to accomplish your charitable giving goals within the context of an overall, multi-generational wealth management strategy.

We encourage participation in philanthropic efforts by all family members, including children. These are some of the social and business aspects of philanthropy. Sometimes that is enough. There are, however, often some very important economic considerations, for all members of the family.

Any family member may need some tax advantaged planning, and there are many tax advantages to be gained by charitable giving. Giving to a Family Foundation is a superb way to achieve tax deductions, and have a lot to say about the way that the money is ultimately used. Outright gifts of cash every year is a good habit to instill in every family unit within the family.

There will also be times when the involvement of a charity in a transaction involving the transfer (purchase or sale) of an asset might make or break the transaction. A simple example is the sale of a highly appreciated stock. Sometimes the family member(s) who own the stock want to avoid or defer paying the capital gains tax that would become due as a result of the sale.

There are at least five charitable tools that can help the sellers of stock avoid or defer the capital gains tax:

A Charitable Remainder Trust
A Charitable Gift Annuity
A Charitable Installment Purchase
A Pooled Income Fund
A Charitable Family Limited Partnership (or LLC)

To get the most from charitable giving, we work closely with select charities and trust companies to ensure the efficient administration of your charitable trusts, family foundations and other charitable instruments. Our group's depth of experience and technical expertise make it possible for our clients to realize the most from their philanthropic efforts.