Planning for Philanthropy and What It Can Do for Everyone

Michael J. Nathanson (), Jeffrey T. Craig (), Jennifer A. Geoghegan (), Nadine Gordon Lee (), Michael A. Haber (), Max B. Haspel (), Seth P. Hieken (), Matthew C. Ilteris (), D. Scott McDonald (), Joseph A. Salvati () and Stephen R. Stelljes ()
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Michael J. Nathanson: The Colony Group
Jeffrey T. Craig: The Colony Group
Jennifer A. Geoghegan: The Colony Group
Nadine Gordon Lee: The Colony Group
Michael A. Haber: The Colony Group
Max B. Haspel: The Colony Group
Seth P. Hieken: The Colony Group
Matthew C. Ilteris: The Colony Group
D. Scott McDonald: The Colony Group
Joseph A. Salvati: The Colony Group
Stephen R. Stelljes: The Colony Group

Chapter 10 in Personal Financial Planning for Executives and Entrepreneurs, 2021, pp 157-166 from Springer

Abstract: Abstract Effective charitable giving involves far more than just donating money. There are tax, legal, and personal considerations that need to be assessed. There are five key elements to charitable gifting for every donor: establishing a budget; becoming familiar with the basic income tax rules; selecting the most tax-efficient assets to give; choosing how to make the gift; and making an impact. The authors consider the tax rules surrounding philanthropy and consider techniques that include donating appreciated assets as well as using donor-advised funds, gift annuities, charitable remainder trusts, charitable lead trusts, and private foundations. The authors also consider how donors can ensure that their funds are going to organizations that will use their gifts most effectively while also creating a family legacy.

Keywords: Charitable Remainder Trust; Charitable Gifts; Donor-advised Fund; Fair Market Value; Exempt Purposes (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-65400-9_10

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