A Useful Tool for
Bequests & Estate Planning
Donor-advised funds are useful estate planning tools. A Catholic Communal Fund can be set up via your will in a family or loved one's name. The donor's children may be appointed as the fund's advisors. They, in turn, may name their children as successor advisors, thereby creating a legacy and helping your children be charitable in ways that they possibly never dreamed of. Upon the death, incapacity, refusal to serve or resignation of the last remaining successor advisor; or if no successor is named, upon the surviving advisor's death, incapacity, refusal to serve, or resignation, The Catholic Communal Fund shall be the final successor to terminate the account.

Unless specific charities are recommended to receive the donor's fund assets upon termination, The Catholic Communal Fund will transfer the balance of the account to its general fund to be used where it is most needed, as determined by the Distribution Committee of The Catholic Communal Fund.

Significant estate tax savings may be realized by setting up a Donor-Advised Fund via your will.

CASE STUDY:
One donor set up a fund as a memorial to a deceased family member. Family and friends contribute to the fund and the family then makes donations to the deceased's favorite charities. Each year, the donor holds a fund-raising event to raise money to be added to the fund in memory of the deceased.


How to Open an Account

For further information or to discuss if a donor-advised fund is right for you, call The Catholic Communal Fund at 212.588.0624, or by email.

The Catholic Communal Fund is not engaged in rendering legal, financial, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
Copyright © 2006 Catholic Communal Fund of the Archdiocese of New York, Inc.
1011 First Avenue, New York, NY 10022
Inquiries: email  |  phone. 212.588.0624  |  fax. 212.753.5980
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