IABFM Publications

Charitable Gift Services: ISSUES AND OPPORTUNITIES FOR MID-LIFE INVESTORS

by Mellon [More Info]

While opportunities for charity abound at every stage of life, planned charitable giving is typically viewed as most meaningful for individuals who are retired or approaching retirement and who are seeking income stability and estate and income tax advantages. Individuals in their forties and fifties often are perceived to be so actively caught up in their lives –fully engaged in career and family while preparing financially for college educations and retirement –that planned charitable giving does not make the financial planning to-do list. At Mellon, we are seeing that many of our wealthy mid-life clients are open to recommendations from their advisors about philanthropy. Most people, in fact, when talking about their overall estate plan and the effects of income and gift taxes, are happy to view a certain portion of their money as social capital. They are highly educated and financially successful and are prepared to parlay their affinity with an alma mater, cultural interest or a cause into a financial commitment. They may be prepared to make a charitable gift of an appreciated asset to a public charity to "give away the gain" (i.e., to be able to get an income tax charitable deduction equal to the fair market value of the asset and at the same time avoid paying income tax on the gain.) Many want a structured giving program that will enable them –and perhaps their children –to see the results of their giving over time

Access : For Affiliate
Pages : 3
Category : Wealth Management

Cost : Free
Date Published : 2006-11-27