Five Star award winner G. Ward Keever, IV, CLU, ChFC, RHU, AEP, CFS, AIF, CKA

Have You Considered Your Giving Strategies?

In our industry, we regularly encounter individuals that are unaware of the financial implications the new tax law has on their charitable giving. If you are charitably inclined, we welcome you to call our office (302.234.5655) to learn how we can best support your charitable giving strategies.

If you or someone you know have tax deferred retirement assets and is age 72 or older and subject to required minimum distributions (RMD), you may want to consider the following strategy:

Qualified Charitable Donations (QCD)

· Give charitably through your IRA and reduce your Adjusted Gross Income (AGI).

· Your AGI is what determines Medicare premiums.

· This gift does not count as taxable income to the charity.

· This gift does counts towards your annual Required Minimum Distribution.

There are other strategies below to consider when giving charitably if you are not eligible for QCDs (at least age 70 1/2).

Bunching

· Multiple years of giving in a single year so that you exceed the standard tax deduction and receive a tax benefit.

Donor Advised Funds

· Single year tax benefits with the ability to spread distributions to target charities over multiple years with simplified tax reporting.

Donate Appreciated Securities

· Donate the appreciated asset to your donor advised funds and receive tax deduction for full value of the asset.

Planned Giving

· Change your beneficiary to a charity and receive the tax benefit.

In addition the strategies mentioned above, there are other advanced level charitable giving strategies to consider such as Charitable Lead Trusts and Charitable Remainder Trusts.

While we recognize we have just touched the surface of these topics. If you are interested in learning more about how we can serve your charitable giving and financial planning needs, please contact us at 302.234.5655 or contactus@covenantwealthstrategies.com to learn more.

As our clients' most trusted advisor, the team at Covenant Wealth Strategies is a catalyst; striving to build financial security, see dreams fulfilled, and create enduring legacies.

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This award was issued on 11/01/2023 by Five Star Professional (FSP) for the time period 02/13/2023 through 08/31/2023. Fee paid for use of marketing materials. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. 522 Delaware-area wealth managers were considered for the award; 55 (11% of candidates) were named 2023 Five Star Wealth Managers. The following prior year statistics use this format: YEAR: # Considered, # Winners, % of candidates, Issued Date, Research Period. 2022: 509, 60, 12%, 11/01/22, 02/21/22 - 08/19/21; 2021: 523, 57, 11%, 11/01/21, 01/18/21 - 09/03/21; 2020: 521, 51, 10%, 11/01/20, 02/10/20 - 09/11/20; 2019: 507, 59, 12%, 11/01/19, 12/6/18 - 07/19/19; 2018: 485, 66, 14%, 11/01/18, 10/19/17 - 07/11/18; 2017: 393, 73, 19%, 07/01/17, 10/19/16 - 05/04/17; 2016: 359, 145, 40%, 06/01/16, 11/30/15 - 05/05/16; 2015: 555, 186, 34%, 07/01/15, 11/30/14 - 05/05/15; 2014: 615, 188, 31%, 07/01/14, 11/30/13 - 05/05/14; 2013: 831, 202, 24%, 07/01/13, 11/30/12 - 05/05/13; 2012: 608, 193, 32%, 07/01/12, 11/30/11 - 05/05/12.

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Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. The award is based on 10 objective criteria. Eligibility criteria-required: 1. Credentialed as a registered investment adviser (RIA) or a registered investment adviser representative; 2. Actively licensed as a RIA or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by FSP, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or FSP's consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through FSP's consumer complaint process; feedback may not be representative of any one client's experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria-considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. FSP does not evaluate quality of services provided to clients. The award is not indicative of the wealth manager's future performance . Wealth Managers may or may not use discretion in their practice and therefore may not manage their clients' assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by FSP or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by FSP in the future. Visit www.fivestarprofessional.com.