Charitable Giving & Estate Planning

Our team at Foster Group wants to help impact the people and purposes most important to you.

Charitable Giving & Estate Planning Services

Our team at Foster Group want to help impact the people and purposes most important to you.

Charitable Giving & Estate Planning at Foster Group

Creating Certainty and Peace of Mind around Estate Planning & Charitable Giving

In a world of nearly infinite possibilities, estate planning and charitable giving are simply about making sure that what you want to have happen happens. In many cases, it takes a little work to get there. But if you’re like most clients who work with a Foster Group financial advisor, you’ll enjoy the journey. And the people and causes you care about will enjoy the results for many years to come.

How We Can Serve You

Like all Foster Group client services, our estate planning process begins with questions – and surprisingly few of them are about money. We need to understand where your heart is. What your goals are. For whom do you want to provide care after you’re gone. How much control you want over how your gifts will be used. There are always competing goals in giving to family or charitable causes, and everyone’s priorities are different.

Clients tell us they appreciate the way we help them think through these considerations. And we can serve clients better when we’re all on the same page.

Very few of our clients come to the planning process with precise dollar amounts in mind for their heirs and charitable causes. Through open-ended conversations, we can help you work through these specifics, while accounting for relevant tax and planning considerations.

Once the basic estate plan decisions have been made, it’s vital that the plan and any required documents mesh very efficiently. There may be revocable trusts established for your children and charities. There may be irrevocable trusts to reduce estate tax and retain more control. Special needs trusts can help provide resources and preserve access to valuable Government benefits. Life insurance trusts may be used to create estate tax liquidity. And everything must be in sync.

We can give you the names of attorneys who we know do great work for families like yours. We’ll prepare a list of questions for you to ask or have top of mind. We can he there with you. We can review the drafts your attorney prepares to make sure nothing’s lost in translation.

Then, we can help you get over the finish line – signing documents, retitling accounts and assets, helping to get your estate plan adopted and put into practice.

Over the life of your estate plan, we recommend reviews every three to five years. Significant tax or legislation changes could trigger an earlier review, as well as major life events – such as a new family member, the sale of a business, retirement, or a large inheritance.

If you have a larger balance sheet and more complex assets, you may be worried that an inheritance can be a burden to your children and grandchildren. At Foster Group, we’re often asked to help educate children and heirs. Through family meetings and other events, we expose them to investment and financial decisions earlier in life – and help you pass along the values you hold dear.

Estate Plan Services | Foster Group

Who Needs an Estate Plan? The Short Answer Is Everyone.

Regardless of your age or financial situation, you need at least the basics of an estate plan – which includes three documents.
  • A Last Will & Testament, which disposes of your property and names guardians for your minor (or special needs) children), if any.
  • A Financial Power of Attorney, naming an agent to make financial decisions on your behalf should you become incapacitated.
  • A Healthcare Power of Attorney, naming a person to make medical decisions on your behalf if you’re unable to.

But No Two Estate Plans Are Exactly Alike

While some estate plans can be simple and straightforward, some – perhaps yours – can be more complex. There could be significant assets involved, generational wealth, or the sale of a family business. There could be complicated family dynamics or a need to determine successor caregiving for a loved one with a disability or special needs. Any number of criteria could come into play. And working with your Foster Group financial advisor will bring them all to light. While we don’t produce the actual documents or give legal advice, we can help guide you through estate planning process, if you desire.

Charitable Giving While You're Living

We have always encouraged our client families to live lives of meaning and generosity. Maybe there’s a cause or an organization that’s impacted your life or touched your heart. Maybe you’ve made it a part of your estate plan. But maybe it’s also important for you to make gifts during your life. We can help. In the last five years alone, Foster Group has helped facilitate more than $72 million* in charitable giving by our clients.

Beyond pure altruism, there are a number of reasons to consider charitable giving during your lifetime. Many people enjoy seeing the impact of their gifts in action – or want to set an example for future generations. Others may be motivated by tax benefits. Our mission is to help you work through the possibilities and deliver wise financial counsel to help you succeed.

*As of 1/1/2023

Let Us Help Secure Your Financial Life and Legacy.

Contact us today to learn more about what’s possible when you trust Foster Group fiduciary financial advisors.

Charitable Giving at Foster Group Couple

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