Charitably Inclined


You view your place in the world differently than many people. Having achieved personal success, you are particularly interested in making a positive impact in the lives of others. Chances are you devote a significant amount of time to charitable causes. You would love to give more, but in these challenging times, you are less confident about your own family’s financial situation. Depending on your individual circumstances, there are a number of tax planning strategies that can enable you to make life-changing contributions to charitable organizations at a surprisingly low net cost to your family.

Nearly everyone is familiar with the charitable income tax deduction. There are a number of additional strategies, including charitable remainder trusts, charitable lead trusts, bargain sales and gift annuities, that are often underutilized due to a lack of full understanding. Your current advisory team may not be fully aware of your willingness to consider large charitable gifts. They may have limited knowledge of sophisticated charitable planning. As a result, they often do not proactively raise these strategies.

There is a good chance that you will be introduced to creative gifting strategies by the planned giving executive of your favorite organization. Your initial response to these strategies may border on disbelief; however the tax code does have a number of provisions that greatly minimize the cost of being charitably inclined. The challenge is where you should turn to gain an independent understanding of the various options available.

Blue Chip Partners can play a variety of positive roles in the planned giving process. In addition to educating our clients on the wide array of strategies, we collaborate with other professionals in the implementation of these strategies. Finally, we understand the challenges faced by the philanthropic community, and can play an independent role in helping potential donors fully understand the advantages and disadvantages of various giving strategies.

*Please note changes in tax laws or regulations can occur at anytime and could substantially impact your situation.