broome financial news ? What is Philanthropy?

Broome Financial Planning would like to introduce you to?Randi Weaver, Principal and Philanthropy advisor at?Good Giving. Today Randi explains what Philanthropy is, and how she works alongside some of our clients in helping them achieve their charitable goals.

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Philanthropy has scarcely been out of the headlines in recent months. The Bill Gates/Warren Buffett ?Giving Pledge? continues to gather signatures from the world?s wealthy and influential and the UK government announced Legacy10, a campaign to encourage charitable giving in the UK.? Sir Richard Branson has joined David Cameron, Nick Clegg and Ed Miliband and others in pledging to leave 10% of the taxable estate to charity and therefore qualifying for a reduced rate of inheritance tax.

The flip side to these celebrations was the shock announcement in the recent UK budget that a cap on tax relief on charitable donations was set to be implemented.? This attracted a significant amount of debate and after a government review, it has been scrapped.? For now, it will be ?business as usual? for large donors and major gifts.

How is philanthropy relevant to you?? Has it been part of your family budget and financial planning?? Has it been or will it be part of your estate planning?

At different stages in life, and during specific times of the year, families and individuals often give more thought to charitable giving. Whether it is the desire to share one?s abundance, to establish an?In Memoriam?fund to honour a relative, to more fully integrate into a new community, or to take advantage of tax incentives, putting in place a more thoughtful and structured charitable giving programme increases the satisfaction of giving.

There has never been a better time to seek advice and guidance on your charitable giving.? Financial planners, accountants, tax advisers and others are increasing their knowledge about this increasingly important component of financial planning and wealth management, and linking up with specialist philanthropy planners where beneficial for you, the donor.

Good Giving helps families and individuals develop, or further develop, their charitable giving by identifying causes and projects that mean the most to them.?We have professional and personal expertise in all areas of giving: as benefactors, running large and small charities, and as philanthropy advisors to individuals, families and family offices. We can see the whole picture, but our focus is on creating donor satisfaction, as defined by the donor.

Our process is modular and we map out a project based on a family?s capacity to give, time horizon and aims and objectives in giving. We can work with a family for a few hours, a day, a week or longer term. Our initial meeting is not charged. Thereafter, a project is costed on an individual basis, using a time-based fee (hourly or daily rate), discounted for longer terms.

Good Giving does not offer tax or legal advice related to philanthropy. Usually Good Giving works in partnership with a family?s established legal and tax advisers, financial planners and private bankers and often, at their invitation.

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Randi works closely with our clients to help them develop their charitable ideas and goals. If you would like more information please?contact?one of our team, who will be more than happy to discuss the services available.

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Source: http://www.broomefp.com/wordpress/?p=2921

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