Charitable Planning, Part 2: The Donor-Advised Fund

Legacy Planning, Once Removed: Ep. 32 - There are many ways for a client to incorporate charitable giving into planning, during life and upon death. That charitable giving can be a significant part of the client’s legacy, and it can result in tax advantages.
In a prior episode, Murphy discussed outright gifts and gift agreements. But some clients are not ready to decide which charities to benefit, nor when and how. For those clients, a donor-advised fund (DAF) might be a good option. In a DAF, the client transfers funds to a fund within a public charity, which might be part of a community foundation or financial institution.
A DAF can offer flexibility and simplicity for the donor. But there are some limitations to a DAF that donors should keep in mind as they consider which charitable vehicle to use. On this episode, McGuireWoods attorney Hunter Glenn discusses the advantages and limitations of this popular strategy.
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