Chuck Feeney has finally achieved his goal—he’s broke. More importantly, Chuck Feeney is proud of his accomplishment. Feeney, the 89-year-old who amassed billions as the cofounder of airport retailer Duty Free Shoppers in 1960, has spent the last few decades of his life disbursing his financial wealth (upwards of $8 billion) to worthy nonprofits around the world. He has championed the concept of Giving While Living, which is the notion that it’s better to make a charitable impact while you’re ... [Continue Reading]
Articles and resources related to Philanthropic Planning.
We often talk with clients about a concept called the "Wealth Equation," a formula we custom-created at CCM. The formula is paired with a process we encourage clients to apply in guiding them through identifying and accomplishing what is most important to them. Applying the Wealth Equation often results in meaningful conversations about life, legacy, priorities, and making a lasting difference in the lives of those who are most important to us. Our recommended reading today comes from Forbes, ... [Continue Reading]
Charitable remainder trusts (CRTs) can create wonderful opportunities for charities, while providing significant benefits to donors and their families. In addition to allowing donors the opportunity to have a substantial impact on a cause they care about, CRTs provide the ability to positively impact an investment portfolio and cash flow while reducing taxes. In fact, with recent tax law changes, a CRT can be used to stretch out the tax deferral of retirement accounts for heirs. A key ... [Continue Reading]
Transformational Philanthropy: Integrated Planning, Intentional Giving In an economic climate that challenges investors to be even more creative in their approach to giving, this paper provides steps to creating a Personal Philanthropic Plan - and achieving the satisfaction of experiencing how philanthropy can move from being a result of integrative planning to a reason to plan. ... [Continue Reading]