Schwab Charitable Introduces Charitable Legacy Program to Facilitate Estate Planning

Allows Individuals to Extend Giving Beyond Their Lifetimes in Support of Favorite Charities

Wednesday, October 26, 2011 7:00 am PDT



Public Company Information:

"Donors take great comfort in knowing that they can put in place a detailed and yet flexible plan for sustained giving to charities they value"

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Charitable, one of the nation’s largest national donor-advised fund sponsoring organizations1, has introduced a new Charitable Legacy Program, enabling individuals to extend their charitable giving beyond their lifetimes. Used in conjunction with a holistic estate plan, the Charitable Legacy Program gives qualified donors the flexibility to provide charitable organizations with support over time after their death.

“In addition to ensuring that an estate plan provides for the well-being of loved ones, it often serves as a final message that reflects personal values and leaves a lasting legacy by which your family and community will remember you,” said Kim Laughton, acting President, Schwab Charitable.

A donor-advised fund allows individuals – small and large donors alike – to contribute cash or appreciated assets to a charitable account to realize the greatest possible current year tax benefits, while supporting their favorite charities over time. After a donor’s death, the charitable assets can be passed onto future generations to oversee and may also be given directly to charitable organizations.

“In this economic environment, many donors would like to be able to provide ongoing support to their favorite charities for an extended period of time after their lifetimes,” said Laughton. “We are thrilled to be able to include this as an ongoing feature of Schwab Charitable donor-advised fund accounts.”

Utilizing the Charitable Legacy Program, individuals with more than $100,000 in their donor-advised accounts may choose to establish ongoing support in their name or anonymously for up to six charities for a minimum of five years after their death or until the account is exhausted. Those with more than $250,000 in their accounts may also choose to have an investment advisor oversee the account’s investments after their death.

“Donors take great comfort in knowing that they can put in place a detailed and yet flexible plan for sustained giving to charities they value,” said Laughton. “The Charitable Legacy Program allows our clients to continue the level of charitable engagement that they have maintained during their lifetimes and to reinforce to the next generation the importance of a commitment to philanthropy.”

Underscoring Schwab Charitable’s ongoing support and active encouragement for individual charitable giving, the introduction of the Charitable Legacy Program follows closely on the heels of the recent announcement by the organization that it has reduced its grant minimum to $50 from $100.

About Schwab Charitable

Created as a national donor-advised fund with a mission to increase charitable giving nationwide, Schwab Charitable has raised over $5.4 billion and has facilitated over $2.4 billion in grants to charities on behalf of its donors since inception. Schwab Charitable was a pioneer in enabling investment advisors to manage the investments of donor-advised accounts and remains the leading provider of such professionally managed accounts. Schwab Charitable also offers a private foundation conversion service for private foundations considering donor-advised funds as a complementary or alternative charitable vehicle. Schwab Charitable’s Double Give Program allows donors to recommend that a portion of their donor-advised accounts be set aside to guarantee microfinance loans to the world's poorest entrepreneurs, while leaving donated assets in the account invested for potential growth and future granting. For more information, visit

1 Philanthropy 400 data published by the Chronicle of Philanthropy, based on net assets for the period ending June 30, 2010, collected from IRS 990 annual returns

This information is not intended to be a substitute for specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, Schwab Charitable recommends consultation with a qualified tax advisor, CPA, Financial Planner or Investment Manager.

Schwab Charitable is the name used for the combined programs and services of Schwab Charitable Fund, an independent nonprofit organization, and Schwab Charitable Trust Services, a limited liability company owned by Schwab Charitable Fund. The Fund has entered into service agreements with certain affiliates of The Charles Schwab Corporation.

©2011 Schwab Charitable Fund. All Rights Reserved.


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