What are My Options for Establishing an Efficient Giving Plan?

While philanthropy serves many, all philanthropy is personal.  Your charitable donations can have a broad reach and support many people in the community. Yet at the same time, the process of putting your wealth into action for charitable purposes is a deeply personal journey. 

The Wert Investment Consulting Group of Wells Fargo Advisors can help you achieve your charitable vision and make the most of your gifts. Our team can help you create a comprehensive, efficient gifting plan.

Different philanthropic vehicles can offer tax benefits and address your charitable goals. We’ve broken these into a handful of strategies:

Donor Advised Fund

A donor advised fund (DAF) allows you to transfer assets irrevocably to a qualified public charity, typically receive an immediate tax deduction (in most cases, up to the full fair market value), and then recommend grant distributions to one or more charitable organizations on your timetable. The public charity manages the donations on behalf of an individual, family, or organization.

Private Foundation

Private foundations (nonprofit corporations or trusts with tax-exempt status) allow you and your family members—or others whom you designate—to maintain oversight of the amount, timing, and recipients of various grants. Many private foundations are formed to last in perpetuity, extending over multiple generations.

Charitable Remainder Trust

This type of trust combines the benefit of a current income stream with a future gift to charity. It provides income to one or more individuals during life or a term of up to 20 years with the remainder distributed to a qualifying charitable organization. 

Charitable Lead Trust

This type of trust provides payments to one or more qualifying charitable organizations over a selected term of years or for the donor’s lifetime. At the time of its creation, the donor may be eligible for a significant gift tax deduction. After the stated term ends, the remaining assets are distributed to the donor’s named beneficiaries.
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