Resources to share with your clients about beneficiaries and estate planning.
Once your client has accepted their invitation to your firm's giving program, they can establish a giving legacy by naming beneficiaries on their donor-advised fund account.
As a PCA, you currently cannot set up beneficiaries on behalf of your clients. However, as a trusted stakeholder in their giving experience, clients may ask for advice on how to use this feature.
It may be helpful to have awareness of how the Beneficiaries tool works so you can best support your client as they act independently:
Charity beneficiaries and personal successors can receive or manage portions of your client's giving account, continuing their legacy of giving beyond their lifetime.
Beneficiaries can be a mix of individuals who will receive a transfer of charitable assets to a donor-advised fund account in their name and charities who will receive grants for the causes your client specifies.
At the time of your client's passing, Charityvest will review their beneficiary profile to coordinate a DAF transfer to their chosen individuals and/or grants to their pre-populated charities.
If their preference is to disburse their account balance over a period of time, they can add special instructions to their beneficiary profile accordingly.
Some clients may choose to ensure further charitable intent in their estate planning documents, such as a last will or trust, by including a written bequest to their donor-advised fund account. Bequests are the most frequent type of planned gift made to charity. Your client's estate receives a charitable deduction for the full amount given, so your client's heirs pay no estate tax on the gift.
