For financial advisor Nancy Hansen, helping clients choose charitable solutions right for them is all in the questions she asks.
“God gave you two ears and one mouth, so use them in that order,” Nancy says. “When you help guide clients to decisions appropriate for them with your questions, good things will happen.”
‘Control From the Grave’
Those conversations helped Nancy guide her client Gwenn to a
“When talking about beneficiaries, I ask clients if they have any concerns about family or charities managing a windfall,” Nancy recalls. “Could a lump sum be detrimental to their livelihood with a tax gain all at once? Making decisions for their beneficiaries allows them control from the grave.”
With a TCRUT the income is dispersed from the trust to named heirs for life or a term of up to 20 years after the client has died. Payments are calculated annually using a set percentage rate and the value of the trust’s assets.
When the trust terminates, the remainder is directed to a donor-advised fund established by the client at Thrivent Charitable, and grants are designated to charities selected by donors or their heirs.
Stretch Assets a Different Way
A TCRUT proved to be just what financial associate Cheryl Avery’s clients Sally and Steve* wanted as well. After creating retirement income using a
A TCRUT helps solve the tax implications the adult children could face when inheriting their parents’ 401(k)s. Those assets will now be dispersed as income from the TCRUT over 20 years, rather than the 10 years allowed for inherited qualified assets under current law.
Cheryl says, “That’s what planning is about. Rules change, and clients change their minds. They can keep harmony in their families by planning well.”
Sally and Steve also want their kids to share their love of giving and instill those values in their own children. The remainder of the TCRUT will make it possible for the family to make charitable decisions together for decades to come.
Collaborate with Thrivent Charitable
Both Nancy and Cheryl have included charitable planning in their practices for many years, relying on their collaboration with Thrivent Charitable. “I don’t do this myself,” Cheryl says. “The gift planners make sure it’s done right.”
Contact our Charitable Giving Services team to discuss unique solutions for your clients.
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.
*These donor's names were changed to maintain anonymity.