
With all the uncertainty in 2020, could your clients benefit from some peace of mind?
One donor is eager to share how her donor-advised fund has been a source of comfort during the uncertainty of the COVID-19 outbreak.
“When I opened our donor-advised fund, I never imagined how much peace of mind it would offer during a time like this,” says donor Kristin Daniels. “Watching the markets this week and knowing I didn’t have to decide whether or how much we could give to our food shelf was so comforting. That decision was already made, with less stress, and I could give freely without worry.”
Wealth Advisor Jennifer Cords helped Kristin and her husband, Chris, include a charitable component in their comprehensive financial plan.
Teaching intentional generosity
A top priority for Jennifer’s clients was finding a way to model generosity for their two young boys. “Their strategy is sharing the value that it’s important to give back, and the tool they use is a donor-advised fund,” she says. Their kids help choose charities to receive designated gifts from the fund they established using appreciated securities.
Giving non-qualified appreciated assets helped the couple avoid triggering unanticipated taxes. “People don’t give for the tax deduction, but it does make them feel better knowing there is tax efficiency for their overall plan,” Jennifer says.
Jennifer also observes that families are more intentional about generosity than ever since online giving options, such as donating via email and tithing electronically, make it rare for kids to see gifts happening.
“Donor-advised funds are great vehicles to shed a different light on generosity for parents and grandparents who want to share that value with their families,” Jennifer says. “Ultimately, everything we have is a gift from God. There’s joy in helping clients be good stewards.”