Your Ways of Giving
Baird Financial Advisors work by simplifying the many complex aspects that can make up a charitable giving plan. We can illustrate the specific implications of various giving techniques, and together develop an informed plan for giving that is right for your circumstances, true to your values and efficient from a tax perspective
Your advisor can explain many philanthropic options, including:
- Direct giving, which gives you full control and may offer short-term tax deductions.
- A charitable foundation, which facilitates sustained giving over the years and can reduce income taxes in the short term. One type of charitable foundation, a family foundation, can often be a good way to bring family members together in a spirit of giving.
- A charitable remainder trust (CRT), which may be a particularly effective way to gift highly appreciated assets. A CRT can provide income and immediate income tax benefits, plus be of significant value for the recipient charity.
- A donor-advised fund, which provides you with an immediate income tax deduction and ultimately reduces estate taxes while allowing you to guide the timing and direction of future distributions to charities.
- A pooled income fund, which provides income to you and has the assets passing to charity after your death. Giving to a pooled income fund also results in a tax deduction at the time you invest.
Expertise and Resources
Working with our team of financial, tax and estate planning specialists, your Baird Financial Advisor can put great skill, experience and financial resources to work for you and your family. While Baird advisors do not provide tax or legal counsel, they can work closely with your attorney and other professional advisors to help you give in the way that’s best for you.
While Baird advisors do not provide tax or legal counsel, they can work closely with your attorney and other professional advisors to help you give in the way that’s best for you.