Time For A Midyear Check Up

As we approach mid-year, it’s a perfect time to speak to your clients about their charitable giving plans. We can help ensure your clients are making the most of what they have been given, realize their generosity goals and understand potential tax efficiencies for 2022.

What is planned charitable giving
Each of us chooses to give in different ways and times. We've defined three main categories of giving: 

• Spontaneous giving is typically spur of the moment and donations are smaller. Examples include disaster relief efforts and neighbors in need.
• Intentional giving includes donations made on a regular basis. Examples include giving to your church or other favorite charities.
• Planned giving is part of an overall financial strategy and has the potential to amplify your clients' generosity. 

Did you know that almost everyone has the ability to make a planned gift? However, only around 37% of Americans know about their ability to give during their lifetime or provide support after their death. This is a missed opportunity to support charities and causes that mean the most to your client. (Source: http://www.thefundraisingauthority.com/planned-giving/20-facts-about-pl…).

Together with Thrivent Charitable, you can help your clients develop a giving plan designed to match their charitable interests and financial circumstances. This kind of generosity can be implemented now or in the future. Mid-year is the ideal time to check in with clients on this important part of an overall financial strategy. 

Questions to ask your client as part of mid-year review
•    Have they or will they receive any unanticipated income (bonus, inheritance, etc.) that may impact their year-end tax situation? 
•    Have they met their charitable giving goals for the year? 
•    Are they aware of how a donor-advised fund works and how it helps them simplify their charitable giving? 
•    If you could find a way to help you give more efficiently to your charities of choice, would that be of interest?