As you work with your charitable clients, you’ll likely encounter many who are absolutely sure they want to leave a gift to favorite charities in their estate plans, but they’re not sure yet exactly which charities they’d like to support and to what extent. These situations make your job more challenging because you want to wrap up the estate planning work, but you can’t finalize the documents without those key pieces of information.

The community foundation has a solution! Our team can work with you and your client to establish a shell 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 shell fund as the beneficiary in the client’s will or trust, your client can work directly with the community foundation team 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’s what you need to know about shell funds:

• Establishing a shell fund at the community foundation is fast, easy, and can be done at no cost to your client. 
• The fund remains dormant until your client dies, at which point the fund receives assets from the client’s estate or trust.
• The community foundation makes grants from the fund according to the client’s most recent instructions. 
• The grants are made in the client’s name or anonymously, ensuring that their wishes are honored well into the future. 
• A shell 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 community needs.

As always, the 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 team’s deep local knowledge helps ensure that grants are directed where they can have the greatest impact. We look forward to working together!