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Feb 1, 2008 12:00 PM
A Symphony of Philanthropy
Prospective donors often ask us whether a donor-advised fund (DAF) or a private foundation (PF) is better for charitable giving. It's only partially correct to say that the best instrument depends on the donor's circumstances and preferences. For some donors, using different vehicles in combination minimizes the trade-offs associated with selecting just one. As with musical arrangements: Some fact patterns are best served by one instrument while others call for multiple instruments working in concert. The advisor's job, as conductor, is to introduce and direct the various charitable giving instruments to best suit the client.
Using charitable gift vehicles in combination can achieve significant benefits for donors and for the social sector — although we must exercise caution when combining gift structures. The Internal Revenue Service has invalidated numerous arrangements, so that assets held in the faulty giving structure were included in the donor's estate and tax advantages were lost.
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| Estate Tax | Donor Advised Funds |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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