Continue Your Charitable Impact with a Legacy Plan
Your donor-advised fund can continue making an impact long after you’re no longer actively advising it. A succession plan, or legacy plan, helps ensure your charitable goals are carried out in a way that reflects your interests, priorities, and vision for the future.
You may choose one option or combine several approaches.
Engage the Next Generation
Name one or more individuals to continue recommending grants, which are often children, grandchildren, other family members, or trusted individuals who share your commitment to charitable giving. This approach allows the next generation to engage in philanthropy while continuing the charitable legacy you have established.
You can structure their involvement in a couple of ways:
- Next generation advises your original fund
- Next generation receives a portion of the original fund into their own personal donor-advised funds
What You’ll Provide
- Percentage of your fund’s total assets that the next generation will advise
- Names and contact information for individuals
- Instructions on whether they’ll advise the original fund or if a specific percentage is allocated to individual donor-advised funds for each
Support Charities You Care About
You may designate charities to receive all or a portion of your fund’s assets when your donor-advised fund transitions. This option provides assurance that organizations important to you will continue to benefit from your generosity.
You may provide instructions for:
- Immediate grants to charities
- Scheduled grants on an annual basis to charities over a set period of years
What You’ll Provide
- Percentages of your fund’s total assets allocated to the charities
- Names and addresses for the charities
- If naming more than one charity, specific percentages allocated for each charity
- Instructions for immediate grants or over a set period
Rely on Community Foundation Led-Grantmaking
Some donors prefer to entrust future grantmaking to the Community Foundation. In this approach, we document your charitable interests. When the fund transitions, our philanthropic team and our board of directors use that guidance to recommend grants that align with your charitable intent.
This can be an attractive option when you:
- Want your charitable giving to adapt to future Kansas City community needs
- May not desire to name people or specific charities
What You’ll Provide
- Percentage of your fund’s total assets allocated to Community Foundation led-grantmaking
- Instructions that indicate use for an unrestricted purpose, or a preferred charitable cause area and/or geographic region
A Flexible, Personalized Approach
Your succession plan can be customized and updated over time as your family, philanthropic interests, and charitable goals evolve.
Seeking Our Guidance
Every person’s circumstances are unique. Our philanthropic advisors partner with donors and their professional advisors to explore the charitable legacy they hope to create, considering factors such as family involvement, charitable interests, fund balance and desired grantmaking horizon. By combining the donor’s vision with our philanthropic expertise, we help develop and document a succession plan that is customized to your goals and positioned to create meaningful impact.
