Legacy Planning and Donor-Advised Funds: How to Leave a Charitable Legacy
When we think about legacy planning, we often picture wills, trusts, and inheritances. But for many people, part of their legacy isn’t just what they leave behind for loved ones—it’s what they give back to the world. If you’ve ever asked yourself how you can make a lasting impact beyond your lifetime, donor-advised funds (DAFs) are a powerful and increasingly popular way to do it.
This guide explores how DAFs support legacy planning, the benefits of using GoFundMe Giving Funds, and how you can start leaving a charitable legacy—on your terms.
What is legacy planning?
It’s the process of preparing how your assets and values will be shared and remembered after your lifetime. It often includes:
- Creating a will
- Setting up trusts
- Appointing guardians or power of attorney
- Planning charitable contributions
For many, legacy planning is not just about distributing wealth—it’s about expressing values, preserving family stories, and making a lasting impact on causes they care about. That’s where legacy donations come in.
Why include charitable giving in your legacy?
Leaving a charitable legacy allows your generosity to continue making a difference for years—or even generations—to come. Here’s why more people are building philanthropy into their estate plans:
- Align your money with your values: Support causes that reflect what matters most to you, whether that’s education, social justice, healthcare access, or disaster relief.
- Inspire future generations: Teach your children and grandchildren about the importance of giving back by modeling intentional philanthropy.
Gain tax advantages: Strategic charitable giving can reduce estate taxes and offer tax deductions during your lifetime. If you want to learn more about tax strategies, our guide can help.
How DAFs support legacy planning
DAFs are particularly well-suited for legacy donations because they offer:
✅ Simplicity
You get a single tax receipt and can manage all your giving from one account.
✅ Flexibility
You can distribute funds to multiple charities over time, even after you’re gone.
✅ Continuity
You can name successors (e.g. family members or trusted advisors) to continue your charitable mission.
✅ Growth potential
Funds can be invested tax-free, helping you amplify your impact over time.
Introducing GoFundMe Giving Funds: New approach to leaving a legacy
Giving Funds make it easy to set aside charitable dollars, potentially grow them through investments, and give to nonprofits – whenever you choose.
It’s designed for donors who want to:
- Consolidate their charitable giving in one place
- Make thoughtful, values-aligned donations year-round
- Give to a broader range of causes, including crisis relief and aid to individuals through donations to charitable organizations
- Receive a single tax receipt for all contributions
With no minimum balance to open and contribution options beginning at just $5, it’s a more accessible way to build your legacy of giving, whether you’re just starting or planning your estate.
Who is legacy planning right for?
Legacy giving through a DAF isn’t just for high-net-worth individuals. It’s for anyone who wants to make a thoughtful, ongoing impact. Whether you’re:
- A parent in your 30s looking to model values of generosity for your children.
- A retiree wanting to do more for your community and help others rally around causes you love.
- Someone navigating their first estate plan and looking to simplify the charitable side.
Giving Funds offer an easy, flexible way to give now and for the future.
Legacy donation in action: What it might look like
| Scenario | What You Can Do |
| You want to support education for years to come | Set up recurring grants from your Giving Fund to go to local school nonprofits |
| You want your family to carry on your giving values | Appoint your children as successor advisors to continue granting after your lifetime |
| You receive a financial windfall and want to give wisely | Contribute to your Giving Fund now, claim the tax deduction, and grant strategically over time |
Leaving a charitable legacy feels good (and does good)
Planning your legacy can be an emotional process, but it’s also deeply meaningful. When you include giving as part of your plan, you’re creating something powerful: a long-lasting expression of your values and a source of good in the world.
💡 Pro tip: you can also invite family or friends to contribute to your Giving Fund, making it a shared legacy and deepening your impact together.
Legacy planning doesn’t have to wait. Whether you’re years from retirement or updating your will next week, you can start setting aside funds for a future of impact now.
This content is for educational purposes only and does not constitute tax, legal, or investment advice. Any financial or tax-related calculations provided are illustrative examples only and should not be relied upon for making financial decisions.
Laws and regulations regarding donor-advised funds vary, and tax benefits depend on individual circumstances. Readers should consult with a qualified tax, legal, or financial professional for personalized guidance.