Schwab Charitable has launched the Charitable Legacy Program, to enable 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 ability to provide charitable organizations with support over time after their death. The initiative comes just after Schwab’s announcement that it has reduced its grant minimum from $100 to $50.
The legacy program allows individuals with more than $100,000 in their accounts to direct money in their name or anonymously to up to six charities for a minimum of five years after their death, or until the account is exhauster. Those with accounts of more than $250,000 can have a financial adviser oversee the investments 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 a lasting legacy by which your family and community will remember you,” said Kim Laughton, acting president of Schwab Charitable. “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.”
To date, Schwab Charitable has raised more than $5.4 billion and facilitated over $2.4 billion in grants to charities on behalf of its donors.