Wealth Insights is our regular financial planning update, generally refreshed on Tuesdays. Wealth Insights provides perspective on financial planning topics to help as you consider options for navigating your financial life.
Families who are successful at intergenerational wealth transfers use their charitable inclinations as an opportunity to impress upon the next generation of heirs, values around money and giving – sort of a glue to maintain their family’s tradition(s).
Collaboratively identifying charitable causes has been proven to improve your efforts at creating and sustaining generational wealth transfer.
The two most popular charitable giving vehicles are DAFs and Private Foundations. While there are similarities, there are also differences – especially related to time and costs incurred.
Tax law encourages charitable giving by providing incentives in the form of tax deductions against both income and estate taxes. Charitable contributions are defined as a gift of present interest to a qualified charity.
