A meaningful part of your financial plan is your charitable giving.
Perhaps it’s the ideal time to put a charitable giving strategy in place to help you make the most of your donations. Consider strategic giving when you:
- Want to make a large charitable gift to offset your tax liability
- Intend to make numerous and substantial charitable gifts upon your death
- Typically claim the standard deduction
- Want to retain control of the timing of the charitable distribution
In the charitable giving realm, donor advised funds (“DAFs”) have become increasingly popular and valuable planning vehicles. They offer several advantages, allowing clients to optimize their tax planning as they streamline and fulfill their philanthropic goals. Curious if you could benefit from the flexibility and simplicity of a DAF while supporting the causes most important to you and your family?
To help you begin considering whether a donor advised fund is right for your situation, we are offering the Should I Use a Donor Advised Fund (DAF) When Giving to Public Charities? flowchart. It covers key factors to consider regarding DAFs, including:
- Charitable goals
- Tax planning goals
- Funding strategies
- Basic mechanics of DAFs
- Alternative charitable giving strategies
For more information on charitable giving, check out:
Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this content, will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for you or your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter (article) serves as the receipt of, or as a substitute for, personalized investment advice from Searcy Financial Services, Inc.
The content of this letter does not constitute a tax or legal opinion. Always consult with a competent professional service provider for advice on tax or legal matters specific to your situation. To the extent that a reader has any questions regarding the applicability of any specific issue discussed in this content, he/she is encouraged to consult with the professional advisor of his/her choosing.
Published for the blog on October 5, 2023 by Searcy Financial Services, your Overland Park, Kansas Fee-Only Financial Planner and Investment Manager.