Case study: giving with purpose

Diane & Bruce, 56 & 62 | Primary goal: create a sound, strategic plan for their philanthropic desires.

Both Diane and Bruce come from well-off families and have had successful careers. They are confident in their ability to retire but want to continue to support the causes they have been involved in (a local animal shelter and Habitat for Humanity).

The Challenge:

Both Diane and Bruce have always been givers. They contributed both financially and with their time throughout their careers but have never really had a solid plan. Recently, Diane has inherited her parent’s assets; they instantly knew that they wanted to amp up their charitable efforts in retirement, but weren’t really sure where to start.

How could they give in a way that maximizes the impact?

How can they take advantage of the tax incentives associated with giving?

The Approach:

Through a few Google searches, Bruce found Wealthwise Partner’s website – a local financial advisor practice that specializes in helping philanthropists and impact-makers.

After the initial consultation, both Bruce and Diane felt confident in Wealthwise’s ability to create a comprehensive giving strategy, as opposed to the complex advice they received from a few tax professionals.

The Results:

In conjunction with the Wealthwise Team, Bruce and Diane were able to:

• Establish the groundwork for their philanthropic desires.
• Create a personalized plan that they actually understood!
• Get an idea of the tax considerations and investment management control.
• Leverage the connections of their CPA to enhance the success of their efforts.
• Establish a gifting structure through a QCD (qualified charitable distribution)

Bruce and Diane are able to now spend time in retirement volunteering at the organizations they love, plus donate dollars in a way that’s meaningful to them. Best of all? They can do this comfortably without having to worry about their security in retirement!

Disclaimer: The above case studies are hypothetical and do not involve an actual Wealthwise Partners client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Wealthwise Partners is engaged to provide investment advisory services.