Donor Advised Fund Succession Plan
Creating a DAF Owners Charitable Legacy
A Donor Advised Fund is a centralized charitable account that enables charitably-inclined individuals, families, and businesses to make tax-deductible charitable donations (in the United States) of cash, publicly-traded stock, and in some cases certain illiquid assets to a public charity that sponsors a DAF program. These types of accounts have become very popular and offer several tax and planning benefits.
An important part of a DAF owner’s estate plan and charitable legacy is deciding on to direct the DAF upon their death. These directions are known as the ‘Donor Advised Fund (DAF) Succession Plan’ and involves informing the DAF sponsor how to distribute the remaining balance in the DAF upon the owner’s (or owners’) passing.
The exact options available to a DAF owner vary and are determined by the DAF sponsor. The most common options related to designating a non-profit, like the IEEE Foundation, include:
- Naming the IEEE Foundation as successor advisor to the DAF
- Naming the IEEE Foundation as full or partial beneficiary of the DAF
- Endowing the DAF to issue grants to the IEEE Foundation for as long as possible
Including the IEEE Foundation in your DAF Succession Plan is easy. Contact your DAF, request the paperwork to find out what options are available to you, fill it out, and send it in.
More Ways to Give
Planned Giving News
SECURE 2.0: Updates That May Impact You!
On 29 December 2022, President Biden signed the Consolidated Appropriations Act of 2023 (HR 2617) into law, which included provisions affecting retirement savings plans intended to build upon the 2019 SECURE Act. This legislation builds on the original Secure Act and years of discussion aimed at strengthening the retirement system and an expansion of the rules for qualified charitable donations (QCDs). While the Secure 2.0 Act contains dozens of provisions, the highlights are different depending on where you are in your life cycle.
Jon C. Taenzer Memorial Fund: Supporting Positive Initiatives Worldwide
Generosity can often have positive and far-reaching effects — and this has never been more clearly demonstrated than by the indelible impact the legacy of Jon C. Taenzer, through the…
Let Us Thank You - Join the League
If you decide to name the IEEE Foundation in your DAF succession plan, please share the good news with us! A member of the IEEE Foundation team will work with you to ensure your wishes can be fulfilled and acknowledge your generosity by recognizing you as a member of the IEEE Goldsmith Legacy League, an elite group of legacy giving donors. You may request to remain anonymous.
The information on this site is for educational purposes only and is not intended as legal, tax, or investment advice. If you are considering a planned gift to the IEEE Foundation, we highly recommend you consult with your own tax and legal advisors to determine the best options for you.