YES, IT’S SIMPLER TO WRITE A CHECK, BUT IS IT SMARTER?

If philanthropy does not require gobs of cash, it is nonetheless both wiser and more effective to craft a customized financial plan before you begin. A plan can help maximize the impact of your gift, both right away and in years to come. It also pays to define exactly what income and categories of assets you possess, how much those assets are worth (today and down the line, if and when they appreciate), and whether they are being appropriately managed and leveraged — for your family and your future, as well as for philanthropy.

“This isn’t just a discussion about what’s on paper,” explains Candace Bahr, a wealth manager in the San Diego area. “You need to talk about inflation and its effects, how to manage all the separate money and investment accounts and so on. The problem of managing money by simply following the markets is that people get caught up in the emotion of it. There’s so much noise constantly coming at you, it’s difficult to differentiate the noise from the real information.”

We love it when a plan comes together.

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