Daffy

What is the purpose of the shared fund in the Family account?

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The shared fund in the Family account on Daffy serves a unique and beneficial purpose. It allows couples or family members to contribute to and donate from the same fund, while still maintaining their individual profiles and preferences. This feature is designed to support everyone's giving, acknowledging that different family members may have different charities and causes they support. For instance, one family member might be passionate about women's issues, while another is keen to support local education and housing initiatives. With the Daffy Family account, they can both give from the same fund, anytime and anywhere, while still keeping track of their charitable spending in one place. This not only simplifies the process of giving but also makes it easier to track all donations, especially during tax season. Moreover, Daffy's Family account is designed with flexibility in mind. It can accommodate up to 24 members under one fund, making it suitable for multi-generational families. Each member can make a donation request, and the fund organizers will be notified of who made the request and the donation amount requested. However, only organizers can approve donation requests, ensuring a level of control and oversight. In conclusion, Daffy's shared fund in the Family account is a great option for a Donor-Advised Fund (DAF). It combines the power of a personal profile with a shared family fund, making it easier for families to be more generous, more often.

Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.

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