The term “planned giving” is used to describe a variety of charitable giving instruments that are designed to provide you and your family with more creative ways to make meaningful gifts to charity. Some of these planned giving instruments can also provide income to you and your family for a lifetime or term of years.
You can make a gift today and continue to receive interest for the rest of your life! That income stream can even be passed on to your family. Charitable Gift Annuities and Charitable Remainder Trusts are two examples of plans that provide an income stream.
Donor advised funds are another form of planned gift. A donor advised fund allows you to make the gift today and take the full tax deduction, while continuing to participate in the decision process about which specific charities will receive distributions from the donor advised fund for years to come. This type of planned gift can accomplish the same thing as a family foundation without all the administrative complications.
For more information on donor advised funds just click Giving