You have a clear charitable vision. You want to support a single cause with a consistent amount to be used in a specific way for as long as possible. But as you plan for this significant (and strict) charitable future, how far ahead are you actually looking?

“In perpetuity,” is a popular term in philanthropy – both as a phrase and a timeline. It’s certainly how long most of us hope our marks on the world will last. But planning in terms of forever, as we imagine it now, can actually be shortsighted.

What if the cure is found? The whales saved? The ecosystem brought back from the brink?

And what if someone else comes along to give more than the benefactor whose name is on the building? Is “perpetuity” first come, first served? And where do the funds go if the organization they were earmarked for completes its mission?

“We’re seeing situations now where courts have to get involved, because directives in estate documents are too restrictive. Donors assumed a need would always be there or that a charity’s goals would never change,” says Nicole Hisler, president of Raymond James Charitable.

“These guidelines are being created with the best intentions, but making strict stipulations or requiring funds be used for things that may become obsolete can undermine the original intent of a gift – and in some cases, make it extremely difficult to distribute funds.”

While Nicole doesn’t discourage specificity when it comes to ultimate wishes, she highlights how important it is for future philanthropists to build flexibility into their charitable plans – precisely because of how long their gifts may last.

Consider contingencies.

While some potential beneficiaries are inherently more “evergreen” in scope – museums, religious institutions, national parks – other organizations are pursuing missions that, hopefully, have an end date.

So where do remaining funds go once they’ve helped do the good you intended?

Start by asking yourself the “if/then” questions and build the answers into your plan, for instance:

• If you’re supporting medical research that succeeds in its cause, then can your gift be redirected toward implementation? Or to research in another field?

or

• If a recipient who meets your scholarship criteria can’t be found, then can the standards be relaxed or a narrow stipulation expanded?

Go with a pro.

If the ability to be prescriptive is a priority, you’ll need to start with charitable vehicles that allow for more control and customization. Establishing a trust, for example, gives you the ability to create your own conditions unlike more turnkey vehicles like donor advised funds, which offer ease but less discretion.

In choosing a more custom vehicle, you’ll also need to consider its ongoing governance and whether to call the professionals in.

A professional or corporate trustee can offer specialized oversight and insight, able to fluently interpret the language of estate and trust documents. You can even imbue your trustee (and future trustees) with decision-making authority to ensure your gifts adapt to progress toward the goals or circumstances of your chosen cause.

Talk to your beneficiary.

According to Nicole, charities and organizations often aren’t aware they’ll be beneficiaries until a will is read or a trust goes into effect. This can leave them scrambling to meet strict criteria or unable to direct funds where they’re needed most.

“Just taking the time to sit down with an intended beneficiary can be a game changer,” she says. “It gives you the chance to see if it’s possible for a charity to carry out your vision for a gift and to explore ways you can start making an impact during your lifetime.”

Many organizations also facilitate connection between their donors, giving them the chance to become part of a larger community of giving and even pool resources.

Whatever the legacy, Nicole encourages donors with a clear vision in mind to consider the impact of change as they plan for the future.

“It’s important to remember when planning these more restrictive gifts, that today’s world won’t exist in perpetuity.”

Donors are urged to consult their attorneys, accountants or tax advisors with respect to questions relating to the deductibility of various types of contributions to a donor advised fund for federal and state tax purposes.

Raymond James Charitable Endowment Fund is an independent non-profit organization that has entered into a services agreement with Raymond James Trust N.A., a subsidiary of Raymond James Financial Services, Inc.

Raymond James Charitable and Raymond James Trust, N.A., do not offer legal or tax advice. You should discuss any legal or tax matters with the appropriate professional.

Investment products are not deposits, are not FDIC/NCUA insured, are not insured by any government agency, are not bank guaranteed, and are subject to risk and may lose value.