As the year winds down, discussions with our clients increasingly address their plans for giving back. During this time, we help fine-tune gifting strategies, optimize charitable contributions, and choose appropriate gifting vehicles. While these conversations happen every year, they have taken on a heightened resonance given the many communities around the globe impacted by 2017’s string of natural disasters.
If giving back has also been on your mind, we thought it could be helpful to share some of the tips and strategies we find useful in our planning discussions with clients:
On a more personal note, some of our clients have asked about Litman Gregory’s own charitable activities. Giving back to our community is a deeply embedded value for us, one we share with many of our clients. Through our Charity Partnership Program, we support two organizations in the San Francisco Bay Area that work to end family homelessness: SHELTER, Inc. and Compass Family Services, and we also provide a charitable gift-matching program for our employees. More recently, with so much of our immediate community impacted by devastating fires, we, as a firm and as individual employees, have directed additional donations to Northern California victims through two long-standing local organizations: Napa Valley Community Foundation and Sonoma County Community Foundation. In keeping with the advice we would give our clients, we carefully planned our giving to support these entities in a way that should generate the most impact.
Whatever your needs are around giving back, our primary responsibility as a fiduciary to our clients is to ensure that gifting choices appropriately support long-term goals and represent the most financially responsible strategies for each individual or family’s situation.
If you would like to learn more about specific gifting strategies, call your Litman Gregory Wealth Advisor to start a discussion, or contact us here. We still have time to help you put all the pieces in place before the end of this tax year.
Alice Lowenstein Earns CSRIC™, Sustainable, Responsible & Impact Investing Designation
We are pleased to share that Managing Director Alice Lowenstein has obtained the Chartered SRI Counselor designation, the first major financial credential dedicated specifically to sustainable, responsible and impact investing. This designation demonstrates Alice’s knowledge of SRI principles and best practices.
As 2020 comes to a close, we join in the enthusiastic farewells to this truly unique year, and also reflect on what we achieved with our clients through it all. Our colleagues worked against the grim tide of news and unprecedented events to support one another, discover our resilience, and ultimately deliver on our ongoing commitment to our clients.
Barron’s Article Featuring Gretchen Hollstein: 5 Tax Moves to Consider for an Unusual Year
Litman Gregory Senior Advisor Gretchen Hollstein was quoted in this recent Barron’s article, which offered ideas to consider before year-end. She describes some common planning strategies we utilize with clients, such as considering Roth IRA conversions and managing IRA required distributions in a unique tax year.