Are you looking for a reason to meet with clients in the coming months not related to turbulent markets? Consider starting conversations with them about donating noncash assets. The tax advantages could be significant, and their generosity amplified.
When Financial Consultant Alex Gonzalez learns of a client’s charitable intent, he introduces them to what’s possible by saying, “You could give cash to meet the charity’s immediate need, but what if those dollars could work harder both for you and the organizations you support?”
A question like that gets the client’s attention and lays the groundwork for decades-long relationships.
Several years ago, Alex collaborated with Thrivent Charitable to help his clients Charles and Barbara establish a donor-advised fund for annual giving with a donation of appreciated stock. Over time, they have also donated securities for a charitable gift annuity from which premiums are paid for a second-to-die life insurance contract that will eventually go to the donor-advised fund as well.
While cash donations are the most common way to support the causes your client cares about most, a very small percentage of wealth in America is held in cash and checking accounts. How can you help clients learn more about using their other assets more effectively?
Thrivent Charitable can accept a wide range of noncash assets:
· Publicly traded stocks and mutual funds
· Real estate
· Life insurance
· Privately held stock/family businesses
New this year, we have partnered with a secure, third-party cryptocurrency platform to allow donors to give nearly 100 cryptocurrencies at the time and date they choose.
Real estate donation replaces rental income
After Financial Consultant Jay Larson invited clients Fred and Diane to a Thrivent Charitable webinar, the couple donated their Florida rental property to Thrivent Charitable, which eliminated capital gains and enabled them to spread the income tax deduction for their gift over several tax years. They will receive income from a charitable remainder unitrust (CRUT) they established for proceeds from the property sale. When they pass away, the remaining funds will be used for scholarships at a local technical college.
Alex says, “It all starts with what’s important to your clients. Be aware these strategies exist and then let Thrivent Charitable help you with all the technical aspects.”
To learn more about gifting noncash assets visit our
Contact our team of gift planners to discuss unique solutions for your clients.