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“The Art of Charitable Planning” Although philanthropy is rooted in a tradition that goes back thousands of years, American philanthropy grew from a culture that saw diverse groups of people from varied backgrounds coming to a land where opportunity was not always equal. Thus, American philanthropy has always been shaded with a social hue, regardless of the ultimate end user in fields such as the arts, education, health care and social service. Because America fosters diversity, it is logical that our philanthropists come in a variety of shapes, sizes and relative net worth. It stands to reason, then, that there is no “typical” American philanthropist. The Rockefellers and Mellons of yesterday who built their fortunes and in much later years began to give it away, looked nothing like the young, energetic new multi-millionaires of today. These successful entrepreneurs are beginning to give back while they are in the process of making their fortunes, and they seek hands-on involvement with the non-profits they support. They do not want to use their hands only to write a check. Charitable planning for people with diverse interests, come from diverse backgrounds, are different ages and have varied motivations for their giving has evolved into an art, rather than a science. There is no “one-size-fits- all” or a neat “paint-by-numbers” kit. The beauty of charitable planning is the process of helping clients paint a complete picture that includes estate, tax and financial planning objectives enriched by the colors of their philanthropic hopes and dreams. Because every client is unique, each picture becomes an individual masterpiece. Anecdotal information tells us that professional advisors do not necessarily need more information on the technical aspects of planned giving to help their clients. Rather, these advisors need to identify the defining “colors” – practical everyday scenarios and ideas that can lead them into a discussion with their clients about charitable planning and how it can help enrich their planning picture. The following presentation is designed to provide the professional advisor with a sampling of the palette (planning ideas and scenarios) – colors that when blended with estate, tax and financial planning objectives will help create a values-based, comprehensive planning picture. - Joel M. Breitstein, Esq. ______________________________________________________________ The Art of Charitable Planning - See:
______________________________________________________________ Legal Disclaimer The information provided herein is for informational purposes only and should not be interpreted to constitute legal and/or tax advice. Donors and other interested parties should consult their legal and tax advisors regarding their specific situations. ______________________________________________________________ Copyright. The Forum of Regional Associations of Grantmakers 2000.
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