A Donor Advised Fund allows you to separate the careful timing of the tax deduction of a charitable gift from when you want the charity to receive your donation. You get the deduction when you transfer funds to your Donor Advised Fund, but the organizations you support get the money whenever you designate a grant be given to them. This subtle difference can allow significant savings for your tax planning.

You can use this time separation to take the standard tax deduction most years while you designate grants from your Donor Advised Fund. Then, every few years itemize your tax deductions and replenish your fund with new charitable giving.

We use Schwab Charitable Donor Advised Fund for our clients and help oversee the funding, investing, and managing for our clients as a part of our Charitable Giving service.

Use Gift Clumping or Qualified Charitable Distributions to Save on Taxes

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These are two ways to benefit from the higher standard deduction while still fulfilling your charitable intentions.

Testamentary Donor Advised Funds

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An easy estate workaround is to set up a Donor Advised Fund as a Testamentary fund, meaning you aren’t funding it yet, but it will be funded upon your death.

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