Commentary

Executive Summary

• Charitable gifting should be considered as part of your overall financial plan.
• Gifting on an annual basis may not be the only or most efficient manner of giving.
• Including family in the gifting conversation can be an effective way to pass values and connect with children and grandchildren.
• Supporting a charity in an estate plan can be accomplished while still providing for heirs.
• PCM can help you navigate gifting options that align with your goals and wealth.

Including Charitable Gifting in your Financial Planning

Having a deadline is helpful to many of us. In such a busy world with so many things coming at us from different directions it is easy to put things off that don’t have a deadline. Most who are charitably inclined are passionate about the charities they support and often times are able to contribute additional funds because of the resulting tax benefit. The December 31st tax deadline, however, has moved most of us in the direction of gifting when that deadline nears. As that deadline nears this year, we encourage you to consider how your charitable ideals are being incorporated into your overall financial plan. Does your family understand your charitable goals? Have future generations been included in those charitable conversations? As with most things, planning ahead generally results in a better outcome.