Planning for Your Fund’s Next Chapter
Ensuring your fund continues to support the organizations and causes you care about for generations to come.
When planning for the future, we often focus on what might happen to our children and grandchildren, our property, or our savings. Just as important—but sometimes overlooked—is planning for the future of your Donor Advised Fund. A thoughtful succession and legacy plan helps preserve your charitable values while maximizing the long-term impact of your generosity.
Including Philanthropy in Your Estate Plan
There are significant benefits to incorporating your Donor Advised Fund into your overall estate plan. It ensures your philanthropic vision is clearly defined, reduces uncertainty for loved ones, and allows the causes you care about to continue receiving support long after your lifetime. With proper planning, you can also take advantage of tax benefits.
Key Steps: What’s Next for Your Fund
Creating a succession or legacy plan for your Donor Advised Fund doesn’t need to be complicated. Here are some key steps to consider.
1. Successor Advisor
Select one or more individuals to serve as advisors to your Fund – a family member, friend, or other trusted person – who will carry on the tradition of charitable giving in your memory. In addition to naming a successor advisor, the Topeka Community Foundation can include a Memorandum of Charitable Intent (MOCI) in your fund file that outlines your wishes for future gift distribution. A MOCI is a flexible written agreement that can be amended during your lifetime, at no charge.
2. Fund Your Legacy
Whether you’re creating or updating your will and estate plan, consider incorporating your Donor Advised Fund. Options include adding bequest language to your will or trust, naming your Fund as a beneficiary of retirement or life insurance, or utilizing other giving tools. These approaches offer flexibility, tax advantages, and peace of mind for you and your loved ones.
We’re Here to Help
A trusted partner, the Topeka Community Foundation can offer guidance and work with your attorney or other professional partners to design a plan that supports your wishes. Give us a call today to inquire further and set up an appointment to discuss your Fund’s legacy.