Consider Your Donor Advised Fund

Donor advised funds (DAFs) are a great way to give, allowing you to make charitable gifts to those organizations you care about most, at the time you choose, often with expert advice and assistance.

Example of a DAF gift

Jane’s accountant has advised her that she could benefit from a significant tax deduction this year. She isn’t ready to make such large gifts at one time to the charities she supports regularly and has not decided if she wants to make gifts to several other organizations she admires.

If she makes a contribution to a DAF, Jane can realize the financial and tax benefits she needs this year and make decisions about supporting her favorite charities, like Loyola Academy, when she is ready.

Leave a legacy

If you already have a donor advised fund, have you considered what will happen to the funds in the future when you are no longer there to make decisions about disposition of funds?

Designating Loyola Academy to receive a distribution from a terminating DAF or to be a beneficiary of endowment distributions is a wonderful way to make a “bequest” without affecting other estate plans.

Ramblers are privileged to be a part of a warm and welcoming faith community.

Sample Bequest Language

If you would like to make a gift to Loyola Academy in your will or living trust, you may want to suggest that your attorney include language such as:

“I give, devise and bequeath to Loyola Academy (Tax I.D. 36-2367981), located at 1100 Laramie Avenue, Wilmette, Illinois, the sum of $ , or percent of the rest, residue and remainder of my estate for the benefit of Loyola’s general purposes.”

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The purpose of this publication is to provide general gift, estate, and financial planning information. It is not intended as legal, accounting or other professional advice. For assistance in planning charitable gifts with tax and other implications, the services of appropriate advisors should be obtained. Consult an attorney for advice if your plans require revision of a will or other legal document. Tax deductions vary based on applicable federal discount rates, which can change on a monthly basis. Some opportunities may not be available in all states. © Copyright 2019 by SHARPE newkirk. All Rights Reserved. NNNPDF-19