Oct 1, 2011 12:00 PM

Contemplating three non-tax implications

By Roger D. Silk

Self-made people are often conflicted about philanthropy. Many of them work very hard for their wealth and, to a certain extent, measure their self-worth by the size of their pile.

If a client's goal is to not only build his pile but also be philanthropic, it can seem like a contradiction. And to some extent, it is. But, for the advisor, there's also plenty of room for effective planning. And that often involves getting the client involved in philanthropy while he's alive. James Cody, director of estate and trust advisory services at Harris myCFO, a multi-family office in Palo Alto, Calif., observes that good philanthropic planning and the related tax benefits can actually help a client grow his overall pile. But there are other good reasons to engage in philanthropic planning. According to Cody:

Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

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Topics of Interest

Estate Tax	Donor Advised Funds
GSTs	Family Offices
Private Foundations	Life Insurance
2010 Tax Act News	Industry Trends Surveys

E-Newsletter Signup

2011 Trust Glossary

Click here to download the 2011 Trust Glossary

50 Years Ago This Month

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50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb.

Conrad Teitell's Guide to Tax Benefits For Charitable Gifts

Click here to view the most up to date guide (September 2011)

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