In this video, we’ll show you how to model a gifting goal in Voyant, allowing you to plan and track gifts effectively within your client's financial plans. Learn how to incorporate gifting strategies into your holistic financial planning process and help your clients achieve their charitable giving or family support objectives. Whether you're planning for large charitable donations, educational gifts, or other significant contributions, Voyant makes it easy to see how these goals fit into the bigger financial picture.
Transcript
In today’s video, I’ll walk you through how to use Voyant’s new Gifting Goal.
We’ll start by clicking the plus button in the bottom right corner and selecting Goals. From there, choose the Gifting Goal option.
Under Recipient Type, you can choose either a Person Outside of the Plan or a Charity. In this example, I’ll select Charity and give it the name Charitable Giving.
Let’s set a charitable giving goal of $25,000 annually. You can choose to have this amount inflate each year or keep it fixed. I’ll set it as a fixed amount.
Next, I’ll go to the Timing Screen. I want this goal to start now and continue until the mortality event.
Under Payment Sources, I’ll select a specific account as the preferred funding source. In this case, I’ll choose the Non-Registered Account. Once that’s set, click Done.
Now, if we go to the Year View and look under Expenses, you’ll see the Charitable Giving expense listed. Clicking on it shows the payment source, which is the non-registered account we selected.
You can scroll year by year to see the expenses being fulfilled. If you switch over to the Investments Tab, you’ll also see the corresponding withdrawals from the non-registered account for this legacy expense, along with the related fees.
I hope this walkthrough was helpful. If you have any questions, please reach out to us by clicking your client’s name in the top right, selecting Request Support, typing your question in the text box, and sharing client access.