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Ask Gordon

Gordon L. Nelson, CPA, CFP® is a planned giving specialist. Want to get your questions answered? Write him or call him at 435.213.9986.

May 2024

Dear Gordon,

I’ve always thought planned giving is something only older people need to worry about. I mean, why should someone like me, not even near retirement, bother with it right now?

Future Funder

Orlando, FL


Dear Future,

It’s a common misconception that planned giving, or estate planning, is only for the later years. Let’s clear this up—it’s really about wise, common-sense planning for any stage of life. Whether you’re looking to build assets, shield them from taxes and other risks, or benefit your loved ones and favorite causes, like Florida wildlife, understanding financial, investment, income tax, and risk management principles is crucial. And guess what? These aren’t just for the elderly.

Incorporating nonprofits into your financial strategy can offer significant tax advantages that benefit you at any age. The sooner you start, the better. And before you sell a highly appreciated asset like stocks and mutual funds or real estate, consider the tax benefits of a gift planning strategy. Charitable Remainder Trusts, for instance, are a fantastic way to handle the sale of such assets tax-free while supporting a cause you care about. This smart move not only saves you taxes, but also supports conservation efforts—proving that effective gift planning isn’t bound by age.

Don’t fall for the myth that planning for the future is only for older folks. It’s about making smart choices to fulfill your dreams, no matter your age. For more detailed information on how you can get started with planned giving, feel free to reach out to me or click here to learn more about your options.

Warm regards,

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