The Impact of Giving

Autumn is a season of gratitude, reflection, and connection. This time also provides an opportunity to embrace the joy of giving and incorporate generosity into your financial plan.

From estate planning to donor-advised funds (DAFs), there are different options that can help your philanthropic efforts. In this article, we'll explore the benefits of giving to make generosity a cornerstone of your life.

Ideas for Charitable Giving

• Donor-Advised Funds (DAFs): A DAF allows you to contribute cash, stocks, or other assets to a fund, receive a tax deduction, and recommend grants to charitable organizations. This strategy can help grow your contributions over time while providing flexibility in how and when you give. Learn more about DAFs here.
• Qualified Charitable Distributions (QCDs): If you’re over 70.5, consider making a qualified charitable distribution (QCD) from your IRA, instead of a direct gift. QCDs are also called IRA charitable distributions or IRA charitable rollovers. This might help individuals fulfill their required minimum distribution by a direct transfer of up to $105,000 to a nonprofit organization. More details on QCDs are available here.
• Charitable Trusts: High-net-worth individuals may benefit from charitable lead trusts or charitable remainder trusts, which provide income either to charities or beneficiaries. For more information on advanced trusts, click here.

Ways to Give Back to Your Community

Charitable giving is not only measured in dollars and cents. Volunteering your time to a cause you are passionate about can be as valuable as writing a check. Share your knowledge or skills with others to brighten someone’s day and foster a sense of camaraderie.

• Volunteer: Find local volunteer opportunities. Consider exploring nearby shelters or community centers, which may offer special events and require extra hands during the holiday season.
• Handwrite Thank-You Notes: Express gratitude by sending handwritten thank-you notes to healthcare workers, teachers, or essential workers in your community.
• Send Care Packages: Assemble care packages with essentials or treats to distribute to the elderly or veterans.

This year, as you gather with loved ones and express gratitude, remember that financial peace of mind can encompass more than money. Embrace the joy of giving by incorporating generosity into your everyday life. Whether it's through financial donations, volunteering, or spreading kindness—the act of giving might enrich your life and the lives of those around you.

Like our supporters, our team believes in family, friends, and community. Be sure to check out the partial list of some of the community organizations that StackStone Wealth supports here.