To begin the process, we take the time to understand your philanthropic aspirations through a series of in-depth discussions. By gaining insights into your personal goals and objectives, we can provide tailored advice on the best course of action for you and your family. This may involve considering tax incentives associated with charitable gifting. The deductibility of your gift may vary depending on the type of asset donated and the recipient charity.

We also assist clients in determining the level of involvement they desire in their charitable giving, helping them choose the most suitable vehicle accordingly. Ultimately, we focus on selecting the gifting vehicle that aligns best with our clients’ goals.

Here are some of the philanthropic planning solutions we offer:

Starting a Charitable Foundation – For clients seeking to establish a lasting legacy of charitable giving, a private foundation may be the ideal option. Private foundations are separate tax-exempt entities created as nonprofit organizations, often with a significant initial gift from an individual. They operate exclusively for charitable purposes and typically have a designated board responsible for managing assets and distributing funds. If you prefer a hands-on approach, actively managing investments, accounting, and grant making, a foundation may be the right fit.

Charitable Remainder Trust – Clients with sophisticated tax planning needs who wish to support charities while transferring assets to their heirs may find a charitable trust appealing. A charitable remainder trust allows you to generate an income stream for yourself or beneficiaries, with the remaining trust assets gifted to one or more charities. Alternatively, a charitable lead trust provides a potential income stream for the charity, with beneficiaries receiving the remaining assets.

Donor Advised Fund – For clients seeking a hassle-free solution with flexibility and lower costs, a donor advised fund (DAF) can be an excellent choice. A DAF is a program sponsored by a public charity that allows you to make irrevocable charitable contributions. You receive immediate tax benefits for the year of the gift and can recommend grants from the DAF over time.

Each solution has its advantages and limitations. By partnering with STATEO, you can explore suitable options for your philanthropic endeavors, ensuring your contributions have a meaningful and lasting impact.