Planning Briefs
Sound Advice On Donor-Advised Funds
Published Wednesday, June 4, 2014 at: 7:00 AM EDT
Charitable giving in the United States has been, for the most part, on the upswing since the beginning of the decade. But some people these days want to do more than simply write checks to their favorite causes. One way to become more involved in the process is to set up a donor-advised fund.
These funds work pretty much as the name implies, giving donors more control than normal over contributions. Typically, you give money to a fund managed by a financial institution. A minimum gift of $5,000 or more may be required. Also, the fund may charge fees, based on a percentage of your assets in the fund (often charging from 0.5 to 1%), to cover administrative costs.
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