Some client conversations are easier than others. Take, for instance, how financial advisor Chris Wieting responded when his clients asked about reducing the taxes they would owe on the sale of depreciated farm equipment.
Crop farmers for more than 50 years, Ron and Diane were ready to retire. None of their adult children farm, so they planned to crop share their land and sell equipment and machinery at auction.
Chris suggested they meet with gift planners at Thrivent Charitable to discuss options to help them achieve their goals:
- Start charitable conversations with clients before they retire, if possible, and be patient.
- Introduce the value of
donating noncash assets . - Use Zoom to bring experts and clients together. Alan has conducted many meetings this way to build relationships between clients’ attorneys, CPAs and Thrivent Charitable gift planners.
- Rely on Thrivent Charitable for recommendations and implementation.
The recommendation was to establish a
“This didn’t happen overnight,” Chris said. “It takes time to develop relationships and build trust. It helped that Thrivent Charitable was already helping them.”
Chris had previously introduced the clients to Thrivent Charitable when they established a donor-advised fund to
“There are a lot of small things clients can do to carry out their charitable goals that can become bigger opportunities,” Chris said. “It’s about finding ways to help them see the connection between their values and financial strategies.”
If you have clients who may benefit from using a CRUT with noncash assets as part of their charitable planning, gift planners can create a
Thrivent Charitable accepts a wide range of noncash asset donations, including:
- Real estate
- Farmland/crops/livestock/equipment
- Life insurance
- Cryptocurrency
- Publicly traded stocks and mutual funds
- Privately held stock/family businesses
- Personal property and collectibles
Visit our website to find resources about donations of
This donor’s experience may not be the same as other donors and does not indicate future performance or success. Payout rates, charitable deductions and other benefits vary based on a number of factors.