Monument Resource Center
Our clients hire us because they recognize the value of our Team’s unique, straight-forward, unfiltered opinion and our tailored advice designed to answer their questions, not everyone else’s. Below, you’ll find some of the most important questions we have been asked over the years to help you better understand the role we play and the advice we give.
When looking to optimize your charitable giving, you may want to consider using a Donor Advised Fund. What is a donor advised fund, you ask? Well, here is a quick overview of what they are, how they work and who tends to find them most helpful.
What is a Donor Advised Fund?
A Donor Advised Fund (DAF) is a type of charitable giving vehicle. Here are some basics on how they operate:
- You receive a tax deduction in the year you make a contribution equal to the full value of the assets you contributed.
Contributions can be made at any time during the life of the DAF.
- You can distribute donations on a flexible time table ( there are no minimum or maximum annual distribution requirements).
- You can invest funds in a DAF so that they will grow or generate income, depending on your philanthropic goals—all of which is tax-free since money in a DAF is qualified charitable funds.
The infographic below helps break down the DAF process nice and clear.
Why use a Donor Advised Fund?
A Donor Advised Fund (DAF) can especially come in handy if:
- You’re getting a windfall this year, such as from a business sale or inheritance, and you’d like to earmark a portion for charity, but you don’t know yet which charity and how much
- You want to make a transformational gift to an organization in a few years that will take time to accumulate
- You have a large amount of appreciated stock that you’d like to use to fund charitable gifts, but you’re hesitant to realize big capital gains
Talk with our wealth advisory team to learn more about DAFs and other charitable giving options so we help make your charitable giving strategy work for you.
What’s Next? To learn more about DAFs, read “Feeling Charitable? Use Donor Advised Funds,” by our President and Co-Founder Dean Catino, CFP(R).
Case Study: High Earners Eye Retirement
The Monument Wealth Management Team helps successful professionals envision their ideal retirement and create a plan to get there.
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument.
Please remember that if you are a Monument client, it remains your responsibility to advise Monument, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Monument’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at https://monumentwealthmanagement.com/disclosures/. Please Note: IF you are a Monument client, please advise us if you have not been receiving account statements (at least quarterly) from the account custodian.
Please Note: Monument does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Monument’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results. It should not be assumed that your Monument account holdings correspond directly to any comparative indices or categories. Please Also Note: (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your Monument accounts; and, (3) a description of each comparative benchmark/index is available upon request.