October 2026 Professional Advisor News

At this stage in your practice’s growth, your client base likely includes a significant number of Millennials—the generation born between 1981 and 1996. For years, much of the conversation about Millennials and wealth has focused on the looming Great Wealth Transfer. But new research suggests that advisors shouldn’t wait for their Millennial clients to receive an inheritance before they start building deeper relationships with this generation through conversations about charitable giving.

Here are three ways to start:

Ask your Millennial clients about charitable giving before there’s a tax reason to ask.
It may be tempting for advisors to condense the topic of charitable giving into a single year-end tax-planning question: “Are you planning to make any charitable gifts before December 31” Instead, try asking a broader question: “What causes or issues are most important to you?”

This is an important shift because research suggests that younger donors tend to organize their philanthropy around responding to issues and community needs, rather than simply supporting institutions on autopilot every year. Bloomerang’s 2026 Giving Signals Report found that 80% of Millennials surveyed expect to support at least one new nonprofit this year, compared with 52% of Gen X and 30% of Baby Boomers. What’s more, three-quarters of Millennials surveyed said they plan to increase their charitable giving this year. Even more striking, 97% said giving makes them feel “part of something.”

Remember that GiveWell Community Foundation can help turn your clients’ interest into action! For instance, our professional staff is happy to introduce a client to specific organizations that are working on issues the client cares about and provide strategic insight into local needs. For you, as a trusted advisor, this deeper dive presents a meaningful opportunity for conversations about what the client’s wealth is for—not simply how it should be invested, taxed, or transferred.

Introduce charitable planning earlier than you might think.
It may seem counterintuitive, but don’t assume donor-advised funds and other charitable planning tools are relevant only after a client reaches a particular age or level of wealth. Many advisors may be surprised to learn that Bloomerang’s 2026 Giving Signals Report also found that 42% of Millennial donors surveyed had used a donor-advised fund in the past year.

What this means is that it’s wise to keep an eye out for a Millennial client receiving equity compensation, selling appreciated investments, exercising stock options, building a business, or simply increasing annual charitable giving. These clients may benefit from a conversation about giving appreciated assets, bunching contributions, and establishing a philanthropic fund sooner rather than later.

Use philanthropy to connect with clients across generations.
As you review your client list, you may discover that in some cases, your strongest relationship might not be with the Millennial at all, but instead with the Millennial’s parents. Naturally, you would like to change that to increase the likelihood that the client’s children and grandchildren stay with your practice for many years. Philanthropy is useful because it is typically a low-pressure topic that can engage multiple generations. So, instead of waiting until an estate plan, business succession plan, or inheritance event forces the generations into the same room, which understandably may be a tense and pressure-filled situation, consider inviting clients to include children or other family members in the charitable giving part of the conversation.

Keep in mind that this type of multigenerational collaboration is valuable not only to the family, but also to you as the advisor. Along those lines, the2026 TPI Study of the Philanthropic Conversation reported that 95% of advisors surveyed said that discussing philanthropy is important to building relationships with high-net-worth clients’ extended families, and 88% of advisors surveyed said that philanthropic conversations help deepen existing client relationships.

The bottom line here is that Millennials are already earning, investing, giving, and deciding whom they trust to help them make financial decisions. Philanthropy offers attorneys, CPAs, and financial advisors a particularly meaningful way to become part of those decisions now. Please reach out to the Community Foundation as a resource! It is our hope to be your first call on all matters of charitable giving.

As an attorney, CPA, or financial advisor, you are no stranger to the heavy lifting involved in keeping up with tax laws and emerging techniques to help achieve your clients’ goals. It can be overwhelming! That’s why the professional staff at GiveWell Community Foundation keeps an eye on developments related to charitable giving and shares those trends with you on a regular basis.

In many cases, we’re sharing reminders about tried-and-true techniques that absolutely should stay top of mind and therefore are worth repeating often, such as gifts of appreciated stock, Qualified Charitable Distributions for clients age 70½ or older, and “bunching” charitable contributions through a charitable fund at the Community Foundation to navigate the high standard deduction.

But we don’t stop there! Occasionally, charitable planning techniques emerge from less obvious tax rules that have recently changed or strategies that apply only to certain clients. In that spirit, as you work through clients’ year-end planning priorities and look ahead to 2027, a few items are worth a second look.

Opportunity Zone investors may be clients who could benefit from charitable planning.
Clients who invested eligible gains in Qualified Opportunity Funds (QOF) under the original Opportunity Zone rules are reaching an important tax milestone. Remaining deferred gain generally must be recognized on the earlier of an inclusion event or Decemer 31, 2026, even if the client continues to hold the QOF investment. That makes 2026 an especially important year to look at the client’s entire tax picture and consider the potential benefit of accelerating charitable giving.

For clients facing recognition of substantial deferred gain, additional charitable giving in the same tax year may generate a charitable deduction that helps offset some of the resulting taxable income, subject to applicable charitable deduction limitations. Depending on the client’s circumstances, this might mean increasing overall charitable contributions, bunching several years of giving into 2026, or contributing long-term appreciated publicly-traded stock to a donor-advised or other type of fund at the Community Foundation.

Don’t forget about the new deduction for clients who don’t itemize.
There’s a lot of talk about the new charitable deduction floor for taxpayers who itemize their charitable contributions. Starting with the 2026 tax year, a client’s otherwise deductible charitable contributions are generally deductible only to the extent they exceed 0.5% of adjusted gross income. Hopefully, you’re already talking with affected clients about concentrating multiple years of charitable giving into a single year, including using a charitable fund at the Community Foundation to separate the timing of the tax deduction from the timing of grants to favorite charitable organizations.

But don’t focus solely on your clients who itemize deductions. Also beginning in 2026, taxpayers who do not itemize can deduct up to $1,000 of qualifying cash charitable contributions, or $2,000 for married couples filing jointly. This is worth remembering when you’re discussing annual giving with clients who have relatively straightforward tax situations—and it’s one more reason not to assume that taking the standard deduction means charitable gifts have no federal income-tax benefit at all. (Note that noncash gifts and gifts to donor-advised funds don’t qualify for this deduction.)

The estate tax conversation has changed—but it hasn’t disappeared.
Under the One Big Beautiful Bill Act, the federal estate and gift tax basic exclusion amount increased to $15 million per individual in 2026. For many of your clients, that takes federal estate tax out of the immediate picture. But don’t let the larger exemption shut down the estate tax and legacy charitable planning conversation altogether. Beneficiary designations, retirement accounts, concentrated assets, business interests, family circumstances, and charitable intentions still warrant attention, especially for clients whose estates could approach the exemption as assets appreciate. Lifetime giving and charitable planning remain important pieces of the puzzle.

Remember that a qualifying charitable bequest to a fund at the Community Foundation or another qualifying nonprofit organization may be deductible for federal estate tax purposes under Internal Revenue Code Section 2055.

As always, we are here for you with any matter related to charitable giving. Please bring us into the conversation early, and we’ll work alongside you and your client to explore the possibilities and help you achieve your client’s goals.

Retirement assets are becoming an increasingly important part of charitable planning. Americans hold more than $50 trillion in retirement accounts—nearly $20 trillion of which are held in IRAs. Meanwhile, the Great Wealth Transfer is underway, with more than $120 trillion expected to change hands over the coming decades.

In light of these trends, it is especially important for professional advisors to remind clients that IRAs in particular offer two distinct charitable planning opportunities. Why? Because:

• Clients may blur the two opportunities together
• Clients may know about one opportunity but not the other
• Clients may simply not realize that IRAs and other retirement assets can play a role in their charitable plans at all

So what are these opportunities, in plain language, that you can use with your clients? Here’s a primer:

Lifetime giving opportunities for clients age 70½ and older
You’re likely well aware that a client age 70½ or older may make a Qualified Charitable Distribution (QCD) directly from an IRA to a qualified charity, including some types of funds at GiveWell Community Foundation (but not a donor-advised fund, although pending legislation could change that). In 2026, the inflation-adjusted QCD limit is $111,000 per taxpayer.

QCDs can become particularly relevant for a client when required minimum distributions begin, currently at age 73. A QCD can count toward a client’s RMD while still excluding the distributed amount from taxable income, assuming applicable requirements are met. But there is no need to wait until RMD age to begin the conversation. The QCD opportunity begins at 70½.

Under current law (note that legislation is pending that could change it), QCDs generally must come from IRAs; distributions directly from employer-sponsored retirement plans such as 401(k)s and 403(b)s do not qualify. 

Legacy giving opportunity for clients of all ages
You know that a client can name a nonprofit organization (including a donor-advised fund at the Community Foundation) as the beneficiary of an IRA or other type of eligible retirement plan, allowing some or all of the assets remaining in the account at death to pass to charitable organizations. The designation itself is relatively simple, and it can be incorporated into a client’s overall estate and charitable planning without necessarily changing the client’s current lifetime giving.

This technique is especially useful because retirement plan assets passing to a charitable beneficiary typically are not subject to the income tax that generally applies when heirs receive taxable distributions from inherited traditional IRAs and retirement plans.

So what’s the issue?
Clients sometimes do not realize that these opportunities are independent of one another. One client might use QCDs to support favorite nonprofits throughout retirement and also name a charitable organization as the beneficiary of some or all of a retirement account. Another client may have little interest in lifetime IRA giving but find the beneficiary designation compelling as part of a legacy plan.

That’s why it’s not a one-and-done conversation. Retirement balances change. Charitable interests evolve. Clients reach new ages and life stages. Estate plans get updated. And a client who wasn’t ready to consider one of these strategies the last time you discussed charitable giving may be ready now.

As retirement assets continue to grow and the Great Wealth Transfer accelerates, consider making two questions a regular part of conversations with charitably-inclined clients: 

• If you’re 70½ or older, could your IRA help support the causes you care about during your lifetime? 
• Could your retirement assets play a role in the legacy you ultimately leave behind?

The Community Foundation’s professional staff is keeping a close eye on the pending legislation mentioned earlier that might expand the ways your clients can use QCDs. Congress is considering two bipartisan charitable giving proposals: the Charity Parity Act, which would permit QCDs directly from employer-sponsored retirement plans, such as 401(k)s, in addition to traditional IRAs, and the IRA Charitable Rollover Facilitation and Enhancement Act, which would extend QCD eligibility to donor-advised funds. Neither proposal has advanced beyond committee, but both remain pending and of course could be very useful to expand charitable giving options if enacted.

It’s the end of October! You are well aware of the calendar, of course, and so are your clients. You’ve also likely already begun reminding clients about year-end tax deadlines and important loose ends to tie up before 2027 hits. Remember, though, that memories are short, and just because you’ve already mentioned year-end deadlines doesn’t mean you should stop reminding your clients. Clients appreciate knowing that you are on top of their estate planning, tax planning, and financial planning priorities. 

When it comes to charitable giving reminders, GiveWell Community Foundation is here to help! Reminders are especially important this year because new charitable deduction rules took effect in 2026 and markets may have created opportunities for clients to give appreciated assets—not to mention the usual changes in families, businesses, and finances that are inevitable every year.

Here is a checklist of five important items to include in your client conversations as you help clients prepare for December 31 deadlines.

Client 70½ or older? Ask about QCDs. Always.
We’ve said it before and we’ll say it again! For clients age 70½ and older, a Qualified Charitable Distribution from an IRA can be an excellent way to support favorite charitable organizations. For 2026, the QCD limit is $111,000 per taxpayer. For clients who are also subject to Required Minimum Distributions (RMDs), a QCD can count toward the RMD while generally excluding the qualifying distributed amount from taxable income. Remember, under current law, QCDs cannot be made to donor-advised funds, although other types of funds at the Community Foundation do qualify (designated, field of interest, and agency).

Much ado about bunching.
As you work with clients who regularly support favorite nonprofit organizations, it’s crucial to revisit a technique called “bunching.” The higher standard deduction means many clients will not itemize every year, and the new 0.5%-of-AGI floor on itemized charitable contribution deductions adds another consideration in 2026. A client who normally gives similar amounts each year might benefit from concentrating several years of charitable contributions into a single tax year and taking the standard deduction in intervening years. A donor-advised fund at the Community Foundation can be especially useful here because the client can make the larger contribution now and recommend grants to favorite charities over time.

Cash is not king! 
Before a client writes a check to their fund at the Community Foundation or to other charitable organizations, encourage them to stop and think and check with you first! Advisors are often looking for highly appreciated stock within clients’ portfolios. Publicly-traded securities held for more than one year are often particularly attractive assets to give to nonprofits because donating the shares directly can generally allow the client to avoid recognizing the unrealized capital gains while qualifying for a charitable deduction based on fair market value, subject to applicable limitations. The Community Foundation can easily accept the stock and sell it so that the proceeds can be put to use in the client’s donor-advised or other type of fund.

What’s more, stock isn’t the only asset worth considering. Depending on a client’s circumstances, closely-held business interests, real estate, and other appreciated property may offer charitable planning opportunities. These gifts require considerable advanced planning and that’s precisely why October is a good time to start the conversation. The Community Foundation can help determine whether a proposed asset is appropriate to accept and work alongside you and the client’s other advisors.

Non-itemizers, raise your hands! 
Don’t overlook the new deduction for your clients who do not itemize their deductions. Beginning with the 2026 tax year, a client who takes the standard deduction can still deduct up to $1,000 in qualifying cash charitable contributions, or $2,000 for married couples filing jointly, subject to limitations (e.g., only cash gifts count, and gifts to donor-advised funds are excluded). For clients who assumed there was “no tax benefit” to their charitable gifts because they don’t itemize, this is worth mentioning! 

Think long-term.
Certainly, during the last quarter of every year your focus is likely on helping clients meet the December 31 deadline for various tax planning and charitable giving strategies. But don’t stop there! This is also a great time to do a quick check-in on your clients’ long-term charitable plans. Has the client already provided for a charitable organization such as the Community Foundation, or a fund at the Community Foundation, in a will or trust? Have IRA beneficiary designations been reviewed recently to determine whether a charitable gift makes sense as part of the account’s ultimate disposition? Your clients are in a “get it done” mode anyway, so now is a good opportunity to make sure their charitable intentions are accurately reflected in an estate plan.

As you address year-end planning priorities with your clients, don’t forget to reach out to the Community Foundation. We are honored to serve as your clients’ home for charitable giving—and grateful to be your first call when matters of philanthropy arise in your work.