Feeling Philanthropic? A Charitable Planning Primer
Do you want to have a major impact on a charity or cause that means a great deal to you? Do you want to do well financially by doing good for others in need? If so, you’ve got plenty of company. One top financial issue we hear about from today’s individuals and families is charitable giving—how to do it well, and how to do it better.
We all know the best results usually come from the best plans. That also holds true when it comes to philanthropy. Charitable planning is the process of making a significant charitable gift that is part of a broader financial or estate plan.
Smart giving is usually best accomplished as part of your overall financial situation. By considering the various assets you have, you can plot out a path to results that are very worthwhile to all parties involved—including you, your family, your business (if you own one) and the charitable organization. To get those results, charitable planning is often coordinated with estate or income tax planning.
There are many ways to accomplish charitable giving. Some examples include:
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Robert J. Pyle, CFP®, CFA is president of Diversified Asset Management, Inc. (DAMI). DAMI is registered as an investment adviser with the U.S. Securities and Exchange Commission (“SEC”) with its primary place of business in the state of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion. References to registration with the SEC do not imply any endorsement or approval of the qualifications of the firm, nor do they imply that the firm’s representatives have attained a particular level of skill or training. To contact Robert, call 303-440-2906 or e-mail info@diversifiedassetmanagement.com.
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