Charitable Giving | Webb Investment Services

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Charitable Giving That Fits Your Goals

Strategies to help you effectively and efficiently gift your wealth

Whether your intent is to build and distribute charitable capital during your lifetime or make meaningful gifts after you are gone, there are a variety of strategies that can help you maximize your goals while (bonus!) potentially having a positive impact on your tax bill. Techniques and choices can change as tax laws and your lifestyle change. The approach that makes the most sense in one tax year might be very different in another. Let us help guide you toward finding the most impactful means of meeting your charitable goals and planning your bequests.

FAQs

If your financial situation changes, your charitable gift strategy might need to change too. For example: if you have a high-income year, sold an appreciated piece of property, or sold a business, you might want to accelerate your gifting that year to help reduce the tax impact. One tool that could be considered is a Donor-Advised Fund. You can “bunch” or “front load” your charitable gifts strategy into the year and then use the larger deduction while still having a pool of charitable capital to use for gifts you might want to make in the future.

In a year that your total itemized deductions might be below the standard deduction level, it might be more beneficial to use the funds in your donor advised fund vs making a cash or appreciated asset gift.

Yes! Here are a variety of other long-term planning options in addition to donor-advised funds like Charitable Remainder Trusts, Charitable Gift Annuities and Charitable Lead Trusts or naming a charity as a beneficiary. All of these strategies require a thoughtful plan with a trusted team of advisors to help you achieve your philanthropy goals. Our team is here to guide you to the solution that fits your needs.

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RBC Wealth Management does not provide tax or legal advice. All decisions regarding the tax or legal implications of your investments should be made in connection with your independent tax or legal advisor.