Focus on the future: Tools for clients who are active charitable planners

As you work with your charitable clients, you will encounter many who know they want to leave a gift to their favorite charities in their estate plans, but they are not sure yet exactly which charities they would like to support and to what extent. These situations can be challenging because you want to wrap up the estate planning work, but you cannot finalize the documents without those key pieces of information.

Hudson Community Foundation (HCF) has a solution! Our team can work with you and your client to establish a fund—sometimes called a “future fund.” The process is fast, and the documentation is straightforward and can usually be completed in a matter of hours. By naming the fund as the beneficiary in the client’s will or trust, your client can work directly with (HCF) to update the list of recipient charities easily and at any time without having to amend estate planning documents. This streamlines the process and allows your client’s intentions to stay aligned with their evolving philanthropic goals.

Here is what you need to know:

• Establishing a fund at HCF is fast, easy, no cost. 
• The fund remains dormant until your client dies, at which point the fund receives assets from the client’s estate or trust.
• HCF makes grants from the fund according to the client’s instructions. 
• The grants are made in the client’s name or anonymously, ensuring that their wishes are honored well into the future. 
• The fund can support long-term impact if it is set up as an endowment to provide a perpetual source of support for causes the client cares about, helping meet both current and future needs.
• Note that this fund can be funded earlier than the estate planning beneficiary process. It can be opened prior to passing and enjoy giving to favorite charities and making an impact while the donor is living!

As always, Hudson Community Foundation is here to work with you and your clients to ensure that your clients’ charitable wishes are achieved both now and in the future. Our experienced staff handles all administrative, legal, and investment management tasks related to the fund. Plus, the community foundation’s deep local knowledge helps ensure that grants are directed where they can have the greatest impact. We look forward to working together! 

The team at the HCF looks forward to working with you and your clients to establish (or update) bequests to fulfill your clients’ charitable legacies. Give us a call! 

Read more about Donors Guide to Donor Advised Funds.

With a fund at Hudson Community Foundation (HCF), advisors can manage the charitable assets on their preferred platform at any amount. Assets stay under your management. You can provide your clients with the consistent investment advice they expect. We are your partner in charitable giving!

The team at HCF is a resource as you serve your philanthropic clients. We understand the charitable side and are happy to serve as a secondary source as you manage the primary relationship with your clients. This blog is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.