STEP Society Of Trust And Estate Practitioners (TEP) Certification

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What is the primary planning advantage of a Donor-Advised Fund (DAF) compared to making direct charitable gifts each year?

The donor retains legal ownership and control of donated assets DAF contributions are permanently exempt from all federal taxes The donor receives an immediate income tax deduction and can recommend grant distributions to charities over time DAFs provide the donor with a lifetime income stream

Correct Answer:

The donor receives an immediate income tax deduction and can recommend grant distributions to charities over time

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