Named a Five Star Professional Wealth Manager in Texas Monthly Magazine, Henry Vail II holds a bachelor of business administration in marketing and finance from Lamar University. Since 1997, Henry E. Vail II has served as a private wealth advisor with Sucre-Vail Wealth Advisors in Houston, Texas. He helps high-net-worth individuals, including physicians, develop long-term financial strategies that include charitable giving.
Charitable giving planning comprises an important part of wealth management for affluent individuals. Because there are more than two million charities in the United States and abroad, careful research and a clear giving mission should prioritize. After determining which causes to support, conduct due diligence to ensure the work of these charities is reputable and impactful. Resources such as Charity Navigator and GuideStar evaluate non-profits based on accountability, impact, transparency, and more, providing vital information about where donations can do the most good.
To make the greatest impact, consider choosing just one organization or choose a community foundation that supports multiple needs across the community. Then, give in a way that offers the best tax advantages to both donor and recipient. Donor-Advised Funds (DAFs), for example, can be disbursed over the course of several years, while the donor can receive a tax deduction for the entire amount at once, while Qualified Charitable Distributions (QCDs) allow donors to give up to $100,000 tax-exempt from their IRA.
Charitable giving planning comprises an important part of wealth management for affluent individuals. Because there are more than two million charities in the United States and abroad, careful research and a clear giving mission should prioritize. After determining which causes to support, conduct due diligence to ensure the work of these charities is reputable and impactful. Resources such as Charity Navigator and GuideStar evaluate non-profits based on accountability, impact, transparency, and more, providing vital information about where donations can do the most good.
To make the greatest impact, consider choosing just one organization or choose a community foundation that supports multiple needs across the community. Then, give in a way that offers the best tax advantages to both donor and recipient. Donor-Advised Funds (DAFs), for example, can be disbursed over the course of several years, while the donor can receive a tax deduction for the entire amount at once, while Qualified Charitable Distributions (QCDs) allow donors to give up to $100,000 tax-exempt from their IRA.
