BSW hosted the second in a series of get-togethers with our professional network of attorneys and CPAs the morning of November 30. Discussion centered around charitable giving – motivations and mechanisms. As shown in the diagram below, people may be driven by any number of goals when planning charitable gifts. A conversation that starts at one point may soon encompass many other considerations until the final shape and direction of a plan is crystallized. The tools for manifesting these desires may be as simple as a donor-advised fund or as complex as a family foundation run by representatives from several generations; but whatever the result, there is no one best answer for everyone. Sitting down to talk with your trusted adviser is the best way to determine how to achieve the ultimate goal, and again, charitable giving usually accomplishes more than one. The sharing of experiences and expertise among our group helped each one of us to walk away smarter. Please contact us with any questions you may have on the subject.
Debi Baydush, Partner