Charitable Planning Services
Charitable Giving: A Multidimensional Benefit
Our firm commends those that give and subscribes to the belief that giving is its own reward. However, we think it’s important for our clients to know that there are ways to gift that may provide you with additional rewards.
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Missed Opportunities Within Charitable Gifts
Giving to charities has become so commonplace that most people don’t think twice before writing a check. We’ve noticed that this leads to the following mistakes with giving:
- People who only gift cash miss out on the opportunity to gift appreciated securities, which can be much more tax-efficient.
- People who don’t gift enough to itemize each year don’t consider bunching their gifts in order to qualify for a tax benefit.
McCabe’s 3-Pronged Approach to Gifting
In working with HNW families, we’ve noticed that there are 3 important considerations that they value immensely:
Tax-Efficient Gifting Vehicles
HNW families want to ensure that they are maximizing their tax benefits when they gift now so that they can gift more in the future.
Generational Gifting Game Plan
Some HNW families consider their gifting their legacy and want to know how to extend that legacy through their second and third generation.
Values-Based Gifting
HNW families want to be able to decide where they will make the most impact and appreciate an unbiased-third party’s opinion to navigate this issue.
Unique Solutions to Charitable Problems
We work closely with Schwab Charitable to set up Donor-Advised Funds (DAFs) for our clients that would like to enjoy the tax benefit that comes with their gift. This is a great resource for clients who would like to enjoy a tax benefit now, keep their money invested over time, and make gifts from their DAF as they need.
Furthermore, as personal information has become more accessible in today’s world, many people are placing an increased value on their privacy. Our firm recognizes that this need extends to people’s ability to gift, which is why we also work with Silent Donor for those clients where anonymous gifting is their top priority. This provides the same tax benefit for your gift with the added confidence that your gift will remain anonymous.
Let’s Discuss Your Charitable Planning Needs
Using our virtual family office, you can meet with our advisors from the comfort of your own home while receiving the same level of service you deserve.
The McCabe Difference
We offer tailored experiences for high-net-worth and ultra-high-net-worth individuals.
We take a collaborative approach with other professionals.
We embrace traditional and cutting edge technology to match the times and offer you better solutions.
We prefer a depth of expertise in fewer areas, to being generalists.
We have over 40 years experience in this industry helping hundreds of clients.
Schedule A Meeting
Schedule a meeting with our advisors by using our Second Opinion Service, our advisors’ Calendly links, or simply call our office main line.
Meet With Your Advisor
Meet with your designated advisor virtually or in-person to get to know each other and the rest of your family. Many times, a follow-up meeting will be beneficial so you know the value that will be provided before you become a client of the firm.
Complete Our Onboarding Process
Assuming you and the advisor see the potential for a long-term relationship, our staff will guide you through our onboarding process to set up accounts with our custodian and join our portfolio monitoring system, Black Diamond.
Frequently Asked Questions
Does charitable planning need to be a part of my financial plan?
It does not. While admirable, many families decide to prioritize passing on their wealth to their family as opposed to charitable organizations.
How is my advisor involved with my charitable giving?
There are a variety of strategies that allow you to invest money into an account that grows for the purpose of charitable giving. Your advisor can also connect with charitable benefactors to streamline the gifting process.