True Wealth for Community Impact

June 21, 2023
By Bart Zandbergen CFP
Bart Zandbergen, Laguna Beach Wealth Advisor, at his desk

When we created our True Wealth Pillars, “Service to Others” resonated on a deep, community level. We believe in giving from the heart and with intention. Part of True Wealth planning includes identifying and creating opportunities to build wealth that can be disbursed to organizations of choice. We recognize that giving selflessly and without expectation can be the gift that keeps on giving.

A valued friend and longtime client of mine is passionate about continuing his mother’s legacy of giving back. He grew up in a small town, and while his mother worked hard to provide for their family, she also recognized that there were others in need. She taught him by example as she would provide food, shelter, and even employment for those who needed an act of kindness or a small investment to get on their feet. As an impressionable young man, he witnessed firsthand the difference someone could make in the lives of others by giving back to support those in his community. As he bloomed into adulthood, he decided that he would continue his mother’s legacy to help others in various ways. Now a successful entrepreneur, part of his True Wealth comes from the fulfillment he gets from providing underprivileged school children with gift cards, and from anonymously paying off layaway charges for families around the holiday season. He seeks no recognition for his efforts – as his gift is the peace and joy he receives from knowing his acts of kindness impart hope into the lives of others.

If you are considering creating a philanthropic arm of your True Wealth Financial Plan, here are a few options to consider:

  • *Donor Advised Fund: A donor-advised fund is a private fund administered by a third party and created for the purpose of managing charitable donations on behalf of an organization, a family, or an individual. Donor-advised funds are private funds for philanthropy. Donor-advised funds aggregate contributions from multiple donors and aim to democratize philanthropy by accepting contribution bases as low as $5,000. They offer tax advantages of up to 60% of adjusted gross income and can hold funds indefinitely. Donor-advised funds also accept non-cash assets, such as stocks, mutual funds, and bonds, as well as complex assets, such as private S- and C-corporation stock.
  • **Charitable Remainder Trust: A charitable remainder trust is a “split-interest” giving vehicle that enables people to pursue philanthropic goals while still generating income. Tax-exempt and irrevocable, they are designed to reduce the taxable income of individuals. They are set up with a donation by the trustor (also known as “the grantor” or “the benefactor”) that provides a partial tax deduction. They then operate by dispensing income to either the trustor or one or more named noncharitable beneficiaries for a specified period of time, after which they donate the remainder of the trust to one or more designated charitable beneficiaries, which can be either a public charity or private foundation.
  • ***Charitable Lead Trust: Trusts can be used in estate planning to pass on a person’s assets smoothly and to the best financial effect. A charitable lead trust is a type of irrevocable trust designed to reduce a beneficiary’s potential transfer taxes upon inheritance. They can be funded with cash and/or other assets, such as publicly traded stock, real estate, private business interests, and private company stock.

True Wealth planning is designed to empower individuals to create financial plans that allow them to live, lead, and leave behind a legacy of a fulfilling life. By planning with intention, you can create impact in ways that you find meaningful for you and your loved ones. Each person’s unique scenarios vary, which is why customized planning can make all the difference in curating the desired outcome.


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Disclosure: The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

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The Zandbergen Group is a DBA of Axxcess Wealth Management, LLC a Registered Investment Advisor with the SEC. Bart A. Zandbergen, CA Insurance License #OA96242. Letitia S. Berbaum, CA Insurance License #OH19537. Zandbergen Group, LLC is a DBA of Axxcess Wealth Management, LLC (“Axxcess”), a registered investment advisor. Advisory services are only offered to clients or prospective clients where Axxcess and its representatives are properly licensed or exempt from licensure.