Start the donation discussion

Talking about philanthropy with your clients gives you a better understanding of their values and hobbies.

Read: Offer advice on charitable giving

Most importantly, it also helps you touch on the topics of estate and tax planning if you haven’t yet had a chance to offer your services.

The only problem is it can be a hard subject to broach. So, FinancialPlanning.com has offered some tips on how to start the donation discussion with clients.

Read: Tough questions surround philanthropy

They list 10 situations that can help you bring up philanthropy. They include:

The death of a loved one: Though it’s a sensitive time, grieving families often ask for donations in memory of a their lost family members. Happier occasions like a child’s graduation can also spur the desire to donate, with some families wanting to mark the occasion by giving to their child’s favourite charity.

Securities have appreciated: Rather than sell an appreciated security, clients can gift it to a charity and avoid paying capital gains taxes.

Read: 5 year-end tax tips and Help affluent clients save tax

Incoming inheritance: If one of your customers is about to receive a large sum, ask if they’d like to donate any of the money. Read more to find out the other 7 times to bring up charitable giving.

Also read:

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