Family giving for years to come (Dan West)
Many of our clients have charitable intentions. They want to give money. But they're not exactly sure. Our job is to explore the next conversation of what they really want to do and how we can construct that.
It might be a good tax year to make a significant gift, so when that happens, we say, "Let's set up a, donor-advised fund with Schwab Charitable.” We can figure out how we give later. And also we can bring your children on board to then help facilitate an ongoing family gifting goal.
We actually encourage all of our clients who have Schwab Charitable donor-advised funds to list their children as successor advisors. So therefore, your children or whomever you designate can actually step in your shoes and then carry out your same desires. What's unique and exciting about donor-advised funds including Schwab Charitable is that you don't need to create a trust document to do that.
You can set up a fund and then then you now have the opportunity to dole that gift out over the next 5, 10, 15, 20, 25 years. It's very simple. It's very easy. We've used it many years. And clients all love their fund.