The people of the Flathead Valley are well known for their kindness and generosity. Not everyone, however, knows about the mechanisms that make generosity result in real-world action. Financial planning is one of those mechanisms, and one that can enhance the impact of giving. Planning the finances of generosity can seem different from the emotional or spiritual drive toward generosity, but for local Financial Advisor Michelle Clary, the financial planning and implementation of charitable giving is quite emotional and, more importantly, joyful. Here she shares both practical and emotional lessons that she has gleaned from this work. In particular, she shares lessons from the life and generosity of Paul D. Wachholz, who passed away recently but whose legacy of generosity is evident in the Flathead Valley, from the Wachholz College Center and Wachholz Innovation and Entrepreneurship Center on the campus of Flathead Valley Community College to the Stillwater Christian School and beyond.
Lesson #1: Gifts are impactful both during and after the donor’s lifetime.
“In the financial planning profession, we treasure and support clients when they arrange bequests that support the causes that they are passionate about beyond their lifetimes. In Paul’s case, though, he was also present as the results of his generosity unfolded and grew. I witnessed how his story and presence inspired action even before his later legacy.” Occasions for inspiration and joy multiply during the lifetime of a donor. These occasions include milestones like dedication ceremonies, where attendees witness and experience a donor’s vision come to life. Such occasions can be very intimate and personal, though. Family, friends and acquaintances see the honest joy that the donor conveys in the decisions and planning that go into robust charitable giving. “Paul showed people that they can experience joy in the decision-making and planning process, as well as in the fulfillment,” Clary points out, “He made people want to feel the joy that he felt just by being generous.”
Lesson #2: Don’t let fear prevent financial planning.
Financial planning overcomes financial fear. That basic principle animates so much of the advice the Piton team works to share, and it applies to charitable giving. Many people have passions that they yearn to convert to practical results by means of charitable giving, but the risks of the commitment give them pause. That is exactly where planning offsets nervousness. Comprehensive financial planning includes honest assessment of risks and building in protection planning. Once there is a plan in place for potential risks, a donor can feel confident in going forward with their generosity, because they no longer fear that their charitable giving could derail other goals that they have. Michelle puts it this way: “When I can engage in generosity that brings me joy, why should I defer that joy to be fearful instead? That’s the kind of choice that I saw Paul making over and over. We were very thorough and pragmatic in planning, but once we had confidence in the plan, he was ready to go every time.”
Lesson #3: You don’t have to be anxious about the complexities.
Michelle and her team work with clients facing complex financial planning situations. One of the reasons for that, and the value of it, lies in the emotions that can often crop up. Financial complexity can fuel uncertainty and anxiety, so even someone with a strong heart for charitable giving can become reluctant to commit. “When the donor, our client, decides that they want to give, we work through the complex options that maximize tax opportunities through tools like Donor Advised Funds and Qualified Charitable Distributions,” Michelle explains. Once again, planning overcomes fear, but this time with recognition that the complexity itself need not be an obstacle. “It’s yet another great lesson from Paul. He never held back just because an endeavor is complicated. This is in large part because he was just fearless when it came to work. The complexity of the task never daunted to him. Then you realize that you can minimize the emotional reaction to complex work and instead lean into it because it brings you closer to your joyful goal.”
#LiveGenerously #ServeWell
Michelle’s team in Kalispell at Piton Wealth knows from their own lives how generous the hearts of people are, and they are continually motivated and inspired, especially by acts of and commitment to service, often in the form of charitable giving. The Piton Wealth team was conceived and founded with a culture of generosity and service. Partnering with clients and members of the community on their journeys of generosity is both a purpose of their work and continual inspiration for them. We urge everyone to make the plans that will overcome whatever fears that they may have, so that their passions lead to fulfillment of their goals. We humbly express our gratitude for our pleasure in these partnerships. And we wish everyone the joys of generosity!
Disclosures: Investment advisory services offered through Thrivent Advisor Network, LLC., a registered investment adviser and a subsidiary of Thrivent. Advisory persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. Piton Wealth and Thrivent Advisor Network, LLC are not affiliated companies. Information in this message is for the intended recipient[s] only. Please visit our website pitonwealth.com for important disclosures.
Thrivent Advisor Network and its advisory persons do not provide legal advice, accounting or tax advice. The information provided is intended to be discussed and reviewed with your professional tax advisor. The information displayed is NOT intended nor designed to assist you in completing tax forms or provide tax advice. This material is intended to assist in considering hypothetical scenarios, which may impact federal income tax. This material is intended for education and is not designed for precision.
The experiences described are unique to the individual referenced and may not be representative of the experience of all clients. Individual results and experiences will vary.
The above content is sponsored by Piton Wealth. To learn more about sponsored content, email [email protected].