Each month we spotlight members of the Community Foundation of Broward’s Professional Advisors Council.

The PAC includes attorneys, CPAs and financial planners who help their clients achieve their charitable goals by collaborating with the Community Foundation. This month’s Q&A features longtime Professional Advisors Council member Thomas Katz, of Katz Baskies & Wolf PLLC.

Thomas is recognized as one of Florida's top attorneys and throughout his more than 40-year legal career he has prioritized giving back and getting involved to help his community. He is a former Community Foundation of Broward Board Chair, former PAC chair and has served on the Foundation's Investment Committee.

Professional & Philanthropy

Q.What inspired you to enter your field?

I was always interested in the law, and mainly the tax/financial aspects of planning. I originally started as a pure transactional tax attorney, and then began to focus more on the estate planning needs of our clients.

Q.What areas of planning do you focus on?

At this point, it is primarily focused on estate planning, but I also enjoy working on the corporate and other tax needs of my clients.

Q.What do you enjoy most about helping clients with long-term or legacy planning?

It is certainly nice helping families save tax dollars, but far more importantly is the feeling that we are helping families think through how they want to define their legacy.

Q.How do you approach conversations around charitable giving?

It is actually hard. Even very wealthy families have anxiety about the long-term needs of their children and grandchildren. It is a special family that is willing to have the conversation about balancing the needs of their family and the needs of the community. Part of our job is to help promote those discussions.

Q.Why is philanthropy important in a strong estate or financial plan?

We all know that philanthropy is an opportunity for both tax savings, and can help causes that people care about, but perhaps at least as importantly, it can be the vehicle for descendants to work together. Those can be the ties that bind families together.

Q.Are there causes or community issues that are especially meaningful to you?

When I was on the Board of the Community Foundation we participated in a match program to build our unrestricted endowment. Those unrestricted funds are the lifeblood of a vibrant giving community prepared to meet changing challenges.

I have also been involved over the years in promoting cooperation between the Community Foundation of Broward, the United Way, and the Jewish Federation of Broward County in addressing communal needs. We are stronger when working together.

Q.What drew you to engage with the Community Foundation?

I was always involved with the Broward Jewish community, and welcomed the opportunity to learn more about the broader community. I was professionally involved with the Community Foundation of Broward, almost from its inception, working with my partner, Jim Blosser, one of the founders.

Q.How has partnering with Community Foundationbenefited your clients?

It is almost funny for people to hear, but giving money away in a thoughtful, responsible way is actually not easy -- especially if it is a significant amount. The people at CFB are an amazing resource.

Q.What trends do you see emerging in charitable giving or estate planning?

I'm not sure I see an "emerging" trend - I think it is more of a continuation of what we have done for many years. I do see a challenge - I have clients over the years that have used charity, whether in outright giving or planned giving such as a charitable lead trust, to avoid estate taxes. With an exemption that allows $30 million per couple to pass tax free, we have to be better about asking the questions about charitable giving even when there isn't an estate tax to avoid.

Q.What advice would you offer advisors looking to include charitable planning in their practice?

It is the same advice that I keep reminding myself – don't forget to ask the question! Oftentimes we go over the family situation, but don't always remember to ask about communal interests.

Personal & Fun

Q.What area of Broward/South Florida do you call home?

I grew up in Hollywood, and worked in downtown Ft. Lauderdale for 25 years. We live in Boca Raton.

Q.What’s something people might be surprised to learn about you?

I love to tinker around the house, although my wife prefers that I not do electrical work. I also like to juggle.

Q.How do you like to spend your time outside of work?

Grandchildren!

Q.What is a favorite Broward restaurant, coffee spot, or local gem?

Cafe Maxx – has been consistently wonderful for 40 years.

Q.What is a book, podcast or resource that’s inspired you recently?

I love history for what it teaches us about our present, and listen frequently to the podcast, "The Rest is History."

Q.What is one word colleagues would use to describe you?

Inventive

Q.A favorite quote or guiding motto?

Most of us have quotes that we need at different points in our lives. I have been most recently moved by Hersh Goldberg Polin, the murdered Israeli hostage, who quoted Nietzsche,“He who has the why, will find the how."

More about the PAC

Our PAC is an elite group of tax and estate attorneys, CPAs and financial advisors who collaborate with the Community Foundation to achieve their clients’ charitable goals. Working together, we help their clients to make a lasting impact through grantmaking support from charitable funds they establish at the Community Foundation. PAC members are invited to networking opportunities, continuing education sessions and special Community Foundation events.

CLICK HERE TO LEARN MORE ABOUT OUR PAC MEMBERS.