Weekend Reading: Should a Donor-Advised Fund Be Part of Your Estate Plan?
This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Charitably minded? Donor-advised funds (DAFs) offer individuals a cost-effective and flexible way to incorporate charitable giving into their estate plans. A DAF is established with a charitable organization, allowing donors to contribute various assets while retaining advisory privileges over fund distribution and investment. Contributions to a DAF are irrevocable and tax-deductible, with potential income tax benefits and reduced estate tax implications. DAFs are also versatile, allowing donors to support IRS-qualified charities, contribute during life or at death through estate planning documents, and name successors for continued charitable giving.
READ THE ARTICLEKey Takeaway: Consult your advisor to help determine if a DAF aligns with your charitable goals and financial strategy.