Legacy planning for your client
Legacy planning allows your clients to designate successor advisors and charitable beneficiaries to receive or manage their Charityvest fund, continuing their legacy of giving.
As an advisor, you have the ability to view, create, and edit a Legacy Plan on behalf of your clients.
How to set up successor advisors and charity beneficiaries for your clients
To help a client nominate successor advisors and charitable beneficiaries to their Charityvest fund:
Log in to your advisor account and navigate to the client's profile, then click the Legacy Plan tab.
Click to add individual successor advisors or charitable beneficiaries.
Decide what percentage of the client's total fund value to allocate to each successor advisor or charitable beneficiary.
Save the selections. The client will receive an email confirmation once their selections are saved.
You can view or update a client's Legacy Plan at any time. If a client has not yet created a Legacy Plan, you can create one on their behalf.
Download a PDF report of your client's Legacy Plan
You can download a PDF summary of a client's Legacy Plan at any time. This is useful if a client wants to share their plan with their attorney or keep a copy with their estate documents.
To download a client's Legacy Plan PDF:
Log in to your advisor account and navigate to the client's profile.
Click the Legacy Plan tab.
Select the Generate PDF button.
Download a new PDF any time a client makes changes to their Legacy Plan to keep records current.
What's Included in the Legacy Plan PDF
Fund name
Last updated date
List of successor advisors and/or charitable beneficiaries with their respective distribution percentages
This Legacy Plan PDF is a summary statement. It is not a will, trust, or other estate planning document.
Selection options for client Legacy Plans
A client's Legacy Plan can be a mix of individuals who will receive a transfer of charitable assets to a Charityvest fund in their name and charities who will receive grants for the causes the client specifies.
To add an individual successor advisor, you will need the successor's first name, last name, email address, and their relationship to the client. You can also provide additional contact information, including address and phone number, and include a personal note from the client to the individual. The successor advisor will not be notified until it's time for them to assume advisory privileges.
To add a charitable beneficiary, search and select from the charities in our database. You may also include the specific purpose for the grant (if any) and a personal note from the client.
Timeframe of disposition
At the time of a client's passing, the Charityvest team will review their Legacy Plan to coordinate a DAF transfer to chosen individual successor advisors and/or grants to pre-selected charitable beneficiaries.
If a client's preference is to disburse their balance over a period of time, you can add special instructions to their Legacy Plan accordingly.
To add disbursement frequency instructions to an individual successor advisor:
While editing the individual successor advisor profile, click the Add additional information (optional) dropdown.
Under Personal Note, enter the desired timeframe and details as needed.
To add disbursement frequency instructions to a charitable beneficiary:
Once you have searched and selected a charity, under the Purpose section, select the Edit button.
From the dropdown, select Other Purpose.
Enter the desired timeframe and details as needed.
Any additional instructions related to a client's Legacy Plan designation will be honored by our team as part of enacting their legacy of generosity.
Still have questions about setting up a client's Legacy Plan? Contact our support team via Intercom chat or at [email protected].
Naming a client's DAF in an estate bequest
Some clients choose to further ensure their charitable intent in their estate planning documents, such as a last will or trust, by including a written bequest to Charityvest.
Bequests are the most frequent type of planned gift made to charity. The client's estate receives a charitable deduction for the full amount given, so their heirs pay no estate tax on the gift.
Clients can consider bequeathing a percentage of their estate, specific assets, or the residual of their estate after liquidation. Here is some example language to share with clients, for use in consultation with a qualified estate planning advisor:
Percentage: "I give, devise and bequeath to Charityvest, Inc. (EIN 81-2771871), a nonprofit corporation of the State of Georgia, ____% of my estate to create or add to my Donor Advised Fund there established."
Specific Assets: "I give, devise and bequeath to Charityvest, Inc. (EIN 81-2771871), a nonprofit corporation of the State of Georgia, [the sum of $____] (or) [_____ shares of ______ stock] (or) [my real property commonly known as __________________] (or) [another reasonable description sufficient for the executor], for the creation or addition to a Donor Advised Fund."
Residual Estate: "I give, devise and bequeath to Charityvest, Inc. (EIN 81-2771871), a nonprofit corporation of the State of Georgia, all of the residual of my estate and any residual real or personal property, upon execution by my executor, for the creation or addition to a Donor Advised Fund."
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