If charitable giving is part of your estate plan, consider a donor-advised fund
Did you know you can exercise some control over your charitable endeavors using a donor-advised fund (DAF)? As the name implies, recommendations are integral to a DAF. First, you contribute to a fund typically managed by an independent sponsoring organization. The minimum contribution generally is $5,000. In exchange for handling the management of the fund, the financial institution usually charges an administrative fee based on a percentage of the deposit. Next, you make recommendations as to how the DAF should distribute the assets to your favorite charities.