Chesterton, IN
Charitable planning in Chesterton, IN
Aspirean Wealth plans charitable giving for individuals and families across Chesterton, Porter County, and Northwest Indiana, from our office in Chesterton. Giving sits under the same team as investment management, tax strategy, and estate coordination, so what you give, and when, is decided alongside the rest of the plan rather than in the last week of December.
The giving side of the plan
What charitable planning covers in Chesterton, IN
Giving well is mostly a question of what you give and when. These are the decisions a giving plan most often has to settle here.
Meet with usAppreciated securities instead of cash
A gift of shares you have held for years can carry a gain you would otherwise pay tax on when you sell. Giving the shares themselves, rather than selling them and giving the cash, may let the charity receive the full value without you realizing the gain, depending on how long you have held them and how much of a deduction you can use that year. If much of your low-basis stock came from a role in Chicago, a gift can take some of that concentration down without a sale. We choose which lots to give from the positions the portfolio is already trying to reduce, so a gift and a rebalance can be the same decision.
Donor-advised funds and IRA gifts
A donor-advised fund lets you make the contribution in the year it does the most for your return and choose the charities later. Where it fits, we use one around a year when income runs unusually high — the sale of a business, a large vest from a role in Chicago, a year of unusual bonuses — or to bunch several years of giving into one, so itemizing may be worth more than it would be in an ordinary year. After the eligible age, a qualified charitable distribution sends money straight from an IRA to a charity, which can matter more than a deduction for a household that no longer itemizes.
Trusts, foundations and the estate plan
For larger or longer-lived giving, a charitable remainder trust, a charitable lead trust, or a private foundation may fit. These are structures your attorney drafts and your CPA reports on, not ones we set up. What we do is model whether one fits the plan, coordinate how it is funded, and keep the estate plan, the beneficiary designations, and the family’s conversation about giving pointed in the same direction.
How we work
How the giving plan runs
What you give to
We begin with the causes and institutions you already support, what you would like to give over the next decade, and whether the family should have a say in it.
Which asset, which year
The plan settles what to give and when, against the income, gains, and distributions it already expects. The tax effect depends on your situation, and we show it both ways before you decide.
Coordinated and kept current
Your CPA sees the plan before filing season and your attorney before documents are drafted, and the plan is revisited when a sale, a vest, or a change in the family moves the picture.
When it comes up
Who we plan giving for in Northwest Indiana
Four situations account for most of the giving plans we write.
A year of unusual income
A business sale or a large vest, when a gift may be worth more on the return than it would be in an ordinary year.
Retirees drawing from IRAs
Households past the eligible age for qualified charitable distributions who give every year and no longer itemize.
Holders of low-basis stock
Whose largest gains sit in a few positions they would like to reduce without selling them first.
Families who give together
Parents who want the next generation to take part in how the family gives, with a fund or a foundation as the place that conversation happens.
Frequently asked questions
The things you’re probably wondering.
Do you have a minimum asset level?
Yes. We best serve individuals with at least $1 million in investable assets, including 401(k) plan assets, or more complex financial situations. Our minimum annual fee is $7,500 for clients below that threshold.
How are you compensated?
We are a fee-only Registered Investment Advisor and a fiduciary, paid via a percentage of the assets we manage.
Do you set up charitable trusts or private foundations?
No. We are a fee-only Registered Investment Advisor, and we do not practice law or prepare tax returns. Your attorney drafts any trust or foundation documents, and your CPA handles the filings that come with them. We model whether a structure fits the plan, work with both of them on how and when it is funded, and keep the rest of the plan consistent with it once it is in place.
Meet with us
Let’s talk in Chesterton.
If you’d like to talk about how giving fits your plan, we’d like to hear from you.
Meet with usOur office in Chesterton, IN
160 Rail Rd, Suite 4Chesterton, IN 46304
(844) 687-5342 · Directions & contact
Serving Chesterton, IN · Valparaiso, IN · Northwest Indiana