Key Takeaways
Situation: A widow inherited her late husband’s rare book collection and wanted to honor his legacy while supporting the causes they both cared about.
Solution: She donated the $1.7M collection to a donor-advised fund (DAF), which was later sold at auction.
Impact: The family turned a complex asset into a lasting philanthropic legacy without the administrative burden of managing the collection or a private foundation.
Situation
When Lauren lost her husband Wilson in 2020, she was left with more than just memories of their life together in Madison, Wisconsin. She was also left with his lifelong passion: a home filled wall-to-wall with rare, 20th-century books, each a carefully selected artifact of his intellectual curiosity. Among them: a first edition Hemingway. For Wilson, these weren’t just books. They were treasures. For Lauren, they became both a priceless legacy and an overwhelming logistical challenge.
Wilson had always envisioned their giving as something that would last beyond their lifetime. He and Lauren had quietly supported local nonprofits for decades, and after his passing, Lauren wanted to continue that tradition but wasn’t sure how.
Solution
That’s when she and her family turned to their financial advisor, who recommended a donor-advised fund. With the help of their financial advisor and charitable experts, they contributed the entire book collection, appraised at $1.7 million, to a DAF. The collection was auctioned off, and the proceeds now sit in a fund that empowers the family to support the causes Wilson loved, in his name, and at their own pace.
Impact
Instead of leaving Lauren to manage a complex estate asset or start a burdensome private foundation, her financial advisors guided her toward a DAF, which gave her and her family a flexible, simple path to continue giving and continue the story Wilson had started.
Want to help your clients do the same with collections, real estate, or other non-cash assets?
Reach out to [email protected] and we’ll help you navigate the options.
