How to talk with a financial advisor about donor-advised funds

By Rex Jones Jul 28, 2021 3 Min Read

Are you interested in opening a donor-advised fund, but don’t know where to begin? One of the best ways to understand all of the details that come with having a donor-advised fund is to talk to a professional advisor.

Talking with a professional advisor

Meeting with your trusted professional advisor, such as your CPA, attorney or estate-planning advisor, can help answer questions about how a donor-advised fund will fit in or impact your overall finances. These professionals will keep personal financial strategies in mind while also considering your current and future financial well-being.

Narrowing down fund options

Your professional advisor can provide numerous fund options that best suit your giving preferences. We cover a few of the different types of funds we offer on our blog.

Before meeting with your advisor, we recommend sitting down with your family and establishing your giving goals so that you make the best decision possible. At CCF, we refer to these goals as a stewardship philosophy. Check out our blog post to learn more about how to establish yours.

Asking questions

When preparing to meet with your advisor, one of the most beneficial things you can do is ask questions. If you show up with a list of prepared questions, the meeting will be much more helpful for you and the advisor. It can be intimidating to know where to begin, so we’ve listed some examples:

Is there a difference between establishing a donor-advised fund versus establishing a family foundation?
What’s the difference between giving through a donor-advised fund and writing checks directly to nonprofits?
How does a donor-advised fund fit within my family’s overall financial and estate plan?
When is the best time for me to start a donor-advised fund?
What type of assets can I contribute to the donor-advised fund?
How much should I contribute to my fund? How much should I give away each year?

Do you have additional questions about donor-advised funds? We’re happy to help! Give us a call at 901-682-6201.