How to Make a Bequest to a Donor-Advised Fund
Bequests have long been a cornerstone of charitable giving—allowing individuals to leave a lasting legacy and continue supporting causes they care about well beyond their lifetime. In recent years, donor-advised funds (DAFs) have emerged as a powerful, flexible tool for philanthropic planning. By combining the ease and clarity of making a bequest with the versatility of a DAF, donors can maximize their impact and ensure their values endure through future generations.
What is a bequest?
A bequest is a gift made through a will or trust, typically as part of one’s estate planning. It allows individuals to allocate a portion of their assets—such as cash, securities, or other property—to charitable causes. Bequests offer a powerful and lasting way to support nonprofits, enabling donors to make significant contributions without impacting their financial security during their lifetime. In addition to helping create a philanthropic legacy, bequests often come with estate tax advantages that can benefit surviving family members.
Steps to make a bequest to a DAF
Making a bequest to your GoFundMe Giving Fund is a straightforward and low-maintenance way to ensure your charitable intentions are carried out. Once your fund is set up and included in your estate plan, there’s little else to manage—allowing you to establish a lasting legacy with ease. The steps below will guide you through the process of getting started and making sure your wishes are documented and honored.
1. Identify your charitable goals
Begin by reflecting on the causes you care most about—whether it’s education, environmental protection, health equity, or supporting local communities. Clarifying your long-term philanthropic vision will guide how you structure your bequest and which organizations or efforts you want to support.
2. Start your GoFundMe Giving Fund
Get started by setting up your GoFundMe Giving Fund. Your fund will allow you to support a wide range of charitable initiatives that align with your values. With a focus on grassroots giving and community impact, a GoFundMe Giving Fund makes it easy to start your philanthropic journey and extend it into the future through a charitable bequest.
3. Include the DAF in your estate plan
Work with an estate planning attorney to formally incorporate the donor-advised fund into your estate plan by making a bequest in a will or trust. You’ll typically designate the DAF sponsor (e.g. GoFundMe Giving Fund) as a charitable beneficiary, specifying either a fixed amount, a percentage of your estate, or particular assets you wish to donate.
4. Specify the bequest details
Decide what kind of assets you want to bequeath—these might include cash or non-cash assets like appreciated stocks (coming soon to GoFundMe Giving Funds).
Legal and tax considerations
Bequests to DAFs offer favorable tax treatment. Donors may be eligible for immediate income tax deductions at the time of contribution, even if distributions to nonprofits occur over time. It’s wise to work with a financial or legal advisor to navigate these benefits and ensure compliance with relevant tax laws.
Ensuring your charitable legacy
A donor-advised fund is not just a place to park assets – it’s a place to shape your charitable legacy. Through thoughtful planning, you can create a lasting impact that benefits future generations. GoFundMe Giving Funds allow you to name successors or establish criteria for grantmaking, ensuring that your vision continues beyond your lifetime.
Make your giving go further
Making a bequest to a DAF is a powerful way to ensure your values live on. It combines the thoughtful intentionality of estate planning with the strategic flexibility of modern philanthropy. Whether you’re just beginning your legacy planning or refining an existing estate plan, consider starting a GoFundMe Giving Fund—an accessible, values-driven option that puts community at the heart of charitable giving. Your future gift could make an enduring difference.
This content is for educational purposes only and does not constitute tax, legal, or investment advice. Any financial or tax-related information presented is for illustrative purposes only. Please consult a qualified tax or financial advisor for personalized guidance. All information applies to the U.S. tax context and is subject to change based on IRS regulations.