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For more than a decade donor-advised funds (DAFs) have been the fastest growing giving vehicle in the charitable giving landscape. So what draws donors to DAFs? When we peel back the layers, we find a whole host of reasons and benefits. In addition to being easy to establish, DAFs offer an immediate tax benefit, a tax free environment for appreciated assets to be sold, anonymity in giving, family involvement, and the ability to spread giving over many years.
As we all come off the four-day food bender that is Thanksgiving, we must face the inevitable; the Christmas season is here. For those who are like me, I adopt ostrich-like qualities from what now seems like Labor Day through Thanksgiving, ignoring the ever-expanding holiday shopping propaganda.Read More »Making our List and Checking it Twice
Just about any asset can be a good candidate for a donor-advised fund (DAF). Cash and publicly traded securities are by far the most common, but there are many other under-utilized ‘specialty” assets that work well for a contribution to a DAF. Such specialty assets include closely-held business interests, real estate, equipment, collectibles, and other similar property.
Often we hear advisors and families alike remark about how challenging it can be to start a conversation around giving. In reality, studies show that individuals want their advisors to discuss charitable giving. While charitable giving is a different conversation for advisors, Renaissance has developed some trigger questions to help you get the conversation started. Advisors play a critical role in starting these conversations and introducing solutions like Donor-Advised Funds (DAF) to charitable families. A DAF is the perfect tool for a family to support a tradition of giving and for an advisor to employ tax-smart strategies to enable the family to give more over time. Read More »Making Philanthropy a Family Affair
For many reasons, the private foundation has been the preferred charitable giving vehicle of the wealthy. Among these reasons are the ability to: (i) retain control by choosing the board, (ii) compensate family members for their services, (iii) retain control over grantmaking; and (iv) retain control over investment decisions.
A common goal of estate planning to avoid estate and gift taxes. A charitable lead trust (CLT) is one tool that can accomplish this objective. Although less familiar than charitable remainder trusts, CLTs can meet many of a donor’s tax, financial, and non-financial goals all in the context of making a charitable gift. For example, a CLT may be used to accomplish one or more of the following:
This is Part 3 of a 3-part series.