Donor advised funds are gaining popularity as one of the most tax efficient ways to give to nonprofits. These funds allow you to contribute cash, securities, or other types of highly appreciated assets to the fund, you receive an immediate tax deduction, the funds can be invested for long term growth, and grants can be made out of the fund to nonprofits over an indefinite period of time. Yet, many donor advised fund owners are not aware that they can direct that any remaining assets in their fund at death can be designated to a nonprofit/s of their choice. These are called “legacy” or “successors”, and it makes for any easy distribution of the funds in the account.
Planned giving information provided by SBMM and its volunteer-based Planned Giving Committee is educational in nature and the Museum cannot render any type of legal or tax advice.