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New IRA legislation has been enacted that may provide even more tax savings for you and your heirs. The SECURE Act continues to allow you to make qualified charitable distributions from your IRA if you are 70 ½ or older but delays the mandatory withdrawal age to 72. What does that mean for you?
Learn more about tax-smart ways to give from your IRA
Whitney Maxson knows sometimes even modest gifts can make a big difference, and helping her clients find the right philanthropic fit can be life-changing. She regularly works with our Legacy Planning team to help her clients who want to make an impact on pediatric care and research.
"I had a client who regularly benefitted during her lifetime a very small charity that operated a shelter for leukemia and FIV positive cats. She ultimately made it a beneficiary of both a charitable remainder trust as well as her revocable trust at her death. It was quite literally life changing for the dear woman who runs the shelter. We were able to connect her with advisors (legal, accounting and investment), which was critical to ensure the ongoing success of the charity which. She still provides me regular updates (and pictures!) of the good work she is doing and I can't help but tear up each time I hear from her!
"In 2020, we worked with the team to craft a charitable lead trust for our client that would benefit in part, mental health, and in part, the Cancer and Blood Diseases Institute," Whitney shares. The team was thoughtful, responsive, and easy to work with. They understood the trust design and implementation, and the benefits it offered both the grantor and Cincinnati Children's.
The legacy planning team at Cincinnati Children's is one of the most knowledgeable planned giving teams in the city. They are incredibly well versed in the technical aspects with deep educational resources, internally and externally. Their passion for the cause is contagious! There are no greater champions for Cincinnati Children's!"
Starting the gift planning conversation doesn't need to be complicated. It begins with a simple conversation to explore the donor's values and interests. Long before you can impress them with your technical expertise, you need to open your ears and truly hear them: their goals, desires, fears, etc. Planned giving takes just that. Planning. It doesn't happen overnight. It is a process and your job is to help guide it. Get the right people around the table. Remember, this process should feel good for both you and the donor! There is no greater reward than being part of a team that creates positive impact for its community.
East Coast of Florida
Where the Crawdads Sing and Marvelous Mrs. Maisel
Hiking, running, camping, Barre 3, swimming ... basically anything outside with my family!
If you want to learn more about working with our Legacy Planning team, contact Suzanne at [email protected] or Kelli at [email protected]. We love helping you help your clients.
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New to Cincinnati Children's or live outside of the Tristate area? 1-877-881-8479
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This site is informational and educational in nature. It is not offering professional tax, legal, or accounting advice.
For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.
