Since early 2016, Toby Mitchell has served as Vice President/Investments at Stifel in New York City. Toby Mitchell and his colleagues work closely with tax and estate attorneys who specialize in wills and planned giving.
Toby Mitchell serves a number of high net worth and ultra-high net worth clients who may wish to include planned giving in their estate or financial planning. Through planned giving, donors may be able to contribute more or differently than they would have normally been able to do throughout their lives.
Some donors, for example, use planned giving to donate appreciated assets. This may enable donors to receive a tax deduction on the full value, thereby reducing capital gains tax. Others choose to identify a charitable organization as recipient of a life insurance or retirement account payout after the donor’s death, thus reducing estate tax on that payout.
Other options for planned giving include those strategies that return benefits to the donor or his or her heirs. A charitable lead trust, for example, creates funding for a selected charity until the death of the donor, at which time his or her beneficiaries receive the remainder. A charitable remainder trust, by contrast, creates income for an individual, but leaves any leftover funds to the charity after the account holder passes.
Toby Mitchell helps his clients understand how these different options may benefit their financial lifestyle. The process typically involves analysis of the investor’s assets and other strategies that may be in place.
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