Setting Goals For Philanthropic Giving and Estate Planning

Estate Planners should know what goal their client is tryingto achieve and what estate planning tools will best accomplish these goals. Someof the more useful tools for providing income are the charitable remaindertrust and a gift annuity. People who are planning to leave part of their estateto charity and part for their families should be aware that a balance betweenthe two is possible, but each person’s situation is unique. For some familiesit is a tradition to include philanthropic trusts or donations to charity intheir estate. A client should remain flexible because philanthropic advisingchanges over time. These changes can affect a client’s goal. Therefore, it isup to the financial advisor to use the best estate planning tools to reachtheir clients goals. 

See Rob Shapiro and Cameron Casey, Experts Reflect On Personal Aspects of Philanthropic and Estate Planning, Harvard Alumni, May 13, 2013.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.