establish, manage and meet

your charitable objectives

Some clients wish to develop a full philanthropic program and allocate a portion of their resources into a vehicle that supports this program during their lifetime and beyond. If a client's philanthropy is focused on their community, we may advise them on how they can establish a fund at their local community foundation. If a client's philanthropy is broader in scope and if they desire greater visibility or direct control over their program, LPM may help them to establish and manage a charitable trust or foundation. In these cases, the client's family members may even be on the board of the foundation.

Initially, LPM staff will do as little or as much as the client wishes. LPM can help the client to develop their philanthropic mission, articulate goals, research grantee possibilities, and obtain outcomes results. Some clients may establish philanthropic programs that result in their desiring to establish their own not-for-profit corporation; LPM can guide this process as well.

Some clients may wish to use more sophisticated charitable vehicles that may benefit their philanthropic program as well as themselves and/or their family. LPM can help the client and their advisors to establish and manage Charitable Remainder Trusts or Charitable Lead Trusts. The first provides the client or client's family member with income during the life of the trust with the asset eventually being given to a charity or to the client's charitable trust or foundation. The Lead Trust is the opposite; it provides income (or donations) to meet the client's philanthropic objectives during the life of the trust with the trust assets generally passing later to children or grandchildren in a tax-advantaged manner. In all cases above, LPM advises the client on how to maximize their tax savings through resulting charitable donations.

Contact LPM today for more information on Charitable Trusts