There are many factors to consider when determining how to structure your charitable giving.
In the event of a natural disaster, your first instinct may be to support relief efforts. How do you know which charities will use your donation effectively?
For families looking to engage in philanthropy and create a family legacy, the two most common charitable giving vehicles are donor advised funds (DAFs) and private foundations.
The fun and rewarding activities of a family foundation center around determining the causes and organizations the foundation will support. This is why the foundation exists—to make an impact and difference for chosen causes and organizations.
A family foundation is much like a family business, requiring a governance structure to harness the best of the family dynamic and help promote adherence to complex regulatory requirements.
If you’re looking for a philanthropic vehicle that offers tax benefits and is simple to maintain, a donor-advised fund might be right for you.