| Professional Advisors, Partners In Philanthropy |
| Greetings!
We are pleased to provide you with our second issue of Professional Advisors, Partners in Philanthropy.
In our last issue we touched on why you should introduce charitable giving into your conversations with clients, but how can you make this conversation happen and make it a comfortable one?
How can you introduce the subject?
- When drawing or reviewing a will, include the "giving question" as a regular item on your list of issues to discuss with your client.
- In advance of your meeting, provide your client with a printed list of issues and questions (including charitable giving) to be addressed - this allows your client to consider the idea ahead of time and ensures that the question is not overlooked.
- Introduce the subject in a way that generates a thoughtful rather than reactive response, using one of the following conversation starters:
"Many people who have been actively involved in their community like to leave something in their will for charity - as a way of sharing one's good fortune with those who have been less fortunate, or helping make our community a better place in the future. Had you considered the possibility of a charitable gift in your estate plan?"
There are other reasons as well to consider a charitable gift - tax savings, for one. Charitable giving can reduce that tax burden and benefit both your inheritors and your community.
"Are you aware of the income tax provision that eliminates the
capital gains tax payable on the sale of appreciated securities
when you gift shares?"
If your client shows interest, but cannot make an immediate decision, include a bequest clause in the will with blanks to be filled in. When you send your client a draft of the will, he/she will have a chance to think about the gift and to talk it over with family or other advisors. It may also provide an opportunity for your client to make enquiries about particular charities or to seek information or guidance from the community foundation about local or regional community needs, opportunities and potential beneficiaries. |
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StatsCan: Seniors to Outnumber Kids by 2036 Entire baby-boom generation will turn 65 by 2031
Statistics Canada says that as baby-boomers turn 65, the number of senior citizens could more than double, outnumbering children for the first time.
Read the article here
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Tracey Vavrek 