Charitable / Philanthropic Planning For Athletes
Professional athletes are often very charitable and want to give back to their communities or organizations that have helped them along the way. Charitable endeavors can promote social good and provide financial benefit to underprivileged. However, all charitable endeavors need to be properly organized and managed and compliment your long term financial plan.
At TBH Sports, we emphasize education first and foremost so that you, our professional athlete clients, understand the decisions you are making and how the decisions will affect you in the short and long term. We have experience working with athletes and their families to provide financial planning that includes the appropriate charitable planning desired by our clients.
There are many ways a professional athlete can choose to give. We seek to work with our clients to understand their charitable goals and provide guidance on the best charitable structure and/or entities to utilize. Professional athletes need to maintain proper documents and accounting for their charitable contributions, especially when using a foundation that bears their name.
Before an athlete begins making charitable contributions, it is important that you contact TBH Sports for a no-obligation meeting to learn more about charitable and philanthropic planning and the importance of timing any charitable contributions. Unsure about a soft ask here.