Gifts + Estate Planning

What Issues Should I Consider When Establishing My Charitable Giving Strategy?

BY Spectrum Wealth Management | Mar 16, 2023

Many individuals and families are charitably inclined but need help aligning their resources, priorities, and philosophy. As a group of wealth professionals, the Spectrum team is uniquely positioned to counsel and assist in determining what, when, and how to give to charitable organizations. It is essential to analyze each unique individual situation to identify opportunities and model outcomes in order to optimize the impact of charitable gifts.

This checklist helps guide you in considering and implementing a charitable giving strategy. It covers:

  • Philanthropic motivations and goals
  • Cash flow considerations
  • Asset selection when funding gifts
  • Charitable giving vehicles
  • Tax planning and deductibility

**This guide has been updated to incorporate new changes made by The SECURE Act 2.0 that are effective for the 2023 year. Any SECURE Act 2.0 changes that are effective for 2024 will be incorporated into this guide at the start of the 2024 year.

Spectrum Wealth Counsel, doing business as Spectrum Wealth Management, LLC, is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Additional information about Spectrum’s investment advisory services is found in Form ADV Part 2, which is available upon request. The information presented is for educational and illustrative purposes only and does not constitute tax, legal, or investment advice. Tax and legal counsel should be engaged before taking any action. The opinions expressed and material provided are for general information and should not be considered a solicitation for purchasing or selling any security.