• Amanda Adams

7 Ways You can Plan for a Successful Fund Succession

During your life, a donor-advised fund can be a valuable tool to help you create a lasting impact. But what happens to the fund when you pass away? Even after your death, your legacy can live on through charitable gifts granted from your donor-advised fund. Proper fund succession is a way to ensure that your charitable values are protected and passed on to future generations. Keep in mind that you can update your fund succession as your circumstances change.


With a donor-advised fund at Legacy, you decide what will happen to the fund. In total, there are 7 options for you to choose from. While the needs of each donor varies, these options allow you to choose what is best for your situation.


Fund Succession Options


1. Continue Fund

As the default option, Legacy will continue to give grants from your fund to support the charitable interests or specific charities you gave to during your lifetime.


2. Advisory Council

As the donor, you have the option to set up a council that will help you fulfill your charitable intent. So, you decide what the advisory can and cannot do i.e. recommend grants or fund investment. As the fund successor, the advisory council will continue to advise the fund under the privileges you set during your lifetime.


3. Trustee of Donor's Trust

Do you have a trust or plan to set one up? If so, the successor of your trust can also be the successor of your donor-advised fund.


4. Family Organization

Have you set up a family organization? If so, the leader, executive officer, or governing committee of the organization can be made the successor of your donor-advised fund.


5. Organization or Company

Did you know that you could have an organization or company be the successor of your donor-advised fund? It can! It can be a for-profit or non-profit organization or company. As with the family organization, the leader, executive officer, or governing committee of the organization or company can be made the successor.


6. Specific Persons

For some, the above options don't work for their situation. As an alternative, you can have a specific person be the successor of your donor-advised fund.


7. Terminate Fund

When you pass away, the fund balance will be granted to the charities or charitable interests that you supported during your lifetime. As another option, you can specify the amount/percentage of the fund balance that will go to qualified charities of your choice. After the balance is granted, the fund will be closed.


Across Generations


Carefully planning your fund succession can enable your values to be transferred to future generations. Part of Legacy's mission statement reads, "...Legacy creates well-being and prosperity by inspiring the transfer of values across generations....". As a steward, Legacy will protect your original intent long after you're gone. With an independent volunteer board, Legacy is in a unique position to protect your original intent for generations to come.


Learn more about how to protect your legacy. Contact us today!

  • FB Social Logos
  • TT Social Logos
  • LI Social Logos
  • IG Social Logos
  • YT Social Logos (1)
LEGACY%20GLOBAL%20COLOR%20(1)_edited.png