Shelly A. Wiemann
ROTARY News:
As we approach the season of giving, Certified Financial Planner™ professional Shelly Wiemann of Wiemann Wealth Strategies and Raymond James spoke to the Rotary Club of Los Alamos, via zoom, about “The 5 Ways to Start Giving to Charity.”
Beginning with Direct Donations, Wiemann explained that these can include gifts of cash, stocks, property, and qualified charitable distributions (QCD) from Investment Retirement Accounts (IRA). Whatever form the contribution takes, it must be given to a recognized 501(c)3.
Continuing with Beneficiary Designation and Testamentary Gifts, designations of a charitable organization can provide support for one’s favorite charity after death.
The third way of giving, Pooled Income Fund, is a charitable trust. It is created by an individual, family, or a corporation giving securities or cash to a charity. The charity then invests the funds, providing dividends for both the donor and the charity. Although tax-deductible, the donations must be taken from personal assets and are irrevocable.
Charitable Trusts. This form of giving, like the pooled income fund, is also irrevocable.
Options include a Charitable Remainder Annuity Trust (CRAT), a Charitable Remainder UniTrust (CRUT), a Charitable Lead Annuity Trust (CLAT), and a Charitable Lead UniTrust (CLUT).
The last of five is Donor Advised Fund. In this charitable giving, the individual, family, or organization creating the fund surrenders ownership of the cash or securities given, but does retain advisory control over how the money is invested and distributed to charity.
Finally, a brief overview of charitable giving strategies within the context of recent tax reform in 2018, the Tax Cuts and Jobs Act, was discussed.
Wiemann completed her Bachelor’s and Master’s degrees in psychology at the University of Minnesota. She moved to New Mexico in 2011 and to Los Alamos in 2016, assuming charge of the Edward Jones office. She is both a CERTIFIED FINANCIAL PLANNER™ professional and a licensed Branch Manager. Earlier this year, Wiemann went into private practice, Wiemann Wealth Strategies, with Raymond James. Wiemann is a member of the Rotary Club of Los Alamos, a Board member for the Pajarito Environmental Education Center, and has volunteered actively with the Los Alamos Community Foundation and as a site steward at Bandelier and in the Santa Fe National Forest.
Questions or comments can be directed to Ms. Wiemann at Wiemann Wealth Strategies, 210 Trinity Drive, Suite T, 505.500.8428, shelly@wiemannwealth.com.
Wiemann Wealth Strategies, LLC is not a registered broker/dealer, and is independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Securities offered through Raymond James Financial Services, Inc. member FINRA/SIPC.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s Initial and ongoing certification requirements.
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