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5 Ways to Ensure Your Fund Agreement is Current

At the start of every year, The San Diego Foundation donor relations team typically receives more calls from legacy fund holders as donors assess their trust and related estate plan documents.

We encourage this as donor interests and laws change, and sometimes intent is no longer effectively facilitated through existing agreements.

As you begin this process, here are some questions to consider while reviewing your agreement.

5 Ways to Ensure Your Fund Agreement is Current

  1. FUND PURPOSE
    Have your charitable intentions changed? Consider making the purpose broad enough to address your intent and changing needs and opportunities for impact. For example, the founder of a scholarship to train students in handwriting would be disappointed in today’s pool of applicants!
  2. BENEFICIARIES
    If you have named specific charitable beneficiaries in your will or trust, are these same beneficiaries also named in your fund agreement? Consider consolidating all beneficiaries in your fund agreement. This will enable you to change beneficiaries in the future without updating your estate planning documents.
  3. LEGAL ADVICE
    Have you changed estate planning attorneys since you created your fund agreement? Notify your current counsel of your fund agreement and be sure the agreement is in his or her file. Review changes in estate laws, as well as best practices in ensuring effective trust administration. Also, be sure The San Diego Foundation has the relevant portion of your will or trust naming your fund as an estate beneficiary.
  4. GOVERNANCE
    Are you comfortable with the process of identifying grantees? If you’ve named successor advisors, do you continue to believe they have a strong interest in taking on this role and solid decision-making ability?
  5. REMEMBER SAN DIEGO
    One of The San Diego Foundation’s unique value propositions is that we exist primarily to make San Diego a better place. Consider allocating a portion of your fund for unrestricted use. You can name the Fund for the Future or, depending on the size, establish a named fund for this purpose.

Learn More

Set up an appointment today with your charitable giving advisor by contacting donorservices@sdfoundation.org or call (619) 235-2300.

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