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October 28, 2011 at 09:03 AM
Some charitably minded individuals think long-term, even beyond their deaths. Others, very much alive, want as much flexibility as possible in spreading around their largesse. Schwab Charitable has now responded to both inclinations.
Earlier this month, the donor-advised fund organization rolled out its Charitable Legacy Program, which enables donors with large Schwab Charitable accounts to extend their giving beyond their lifetimes.
Individuals with more than $100,000 in their DAF accounts can establish continuing support, in their own name or anonymously, for up to six charities for a minimum of five years after their death or until the account is exhausted. Those with accounts above $250,000 can also engage an investment advisor to oversee the account’s investments after their death.
“In addition to ensuring that an estate plan provides for the well-being of loved ones, it often serves as a final message that reflects personal values and leaves a lasting legacy by which your family and community will remember you,” Kim Laughton, acting president of Schwab Charitable, said in a statement.
