Charitable Planning Strategies for the Fragile Decade

Charitable Planning Strategies for the Fragile Decade
As our clients at McLean Asset Management near retirement, we notice that many do not bring up charitable gifting strategies to help optimize their retirement plans. Perhaps it’s a focus on solving the longevity goal of making sure there is enough money to meet yearly expenses exclusive of other goals, or perhaps it’s skepticism or uncertainty about charitable gifting strategies in general. Whatever the reason, these strategies are not top of mind. Because of this and the fact that we are nearing year end, we thought it helpful to highlight a few charitable planning strategies and broadly discuss how they might benefit your overall retirement plans. Rather than promoting a specific strategy or forcing a specific cause on a client, in this article we will first discuss the basics of charitable planning and then introduce more sophisticated strategies like Charitable Remainder Trusts and Charitable Gift Annuities. The History of Charitable Deductions The history of the charitable tax deduction is interesting.  At the beginning of World War I, income taxes were raised to help pay the costs of the war and as a result, charities began to suffer.  The top tax rate went from 15% in 1916 to 67% in 1917. […]

Source: Retirement Researcher

Charitable Planning Strategies for the Fragile Decade

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