How to Start a Memorial Fund for a Loved One
After the death of a loved one, it may seem like nothing can alleviate the pain of the loss. One way to help deal with the death of a loved one is to establish a memorial fund in their name. Memorial funds honour the life of the deceased and provide survivors with an outlet for their grief by affording them the opportunity to invest time, energy and love in preserving the deceased’s memory.
There are a variety of types of memorial funds. You may decide to offer money or other assets to organizations or causes of your choice. Or you may reach out to raise money for a fund through crowd sourcing or other means. You may want to manage it yourself, have a board of trustees do it or delegate the task to a community foundation.
To get you started, you may want to discuss your options with your financial advisor or foundations that interest you.
Let’s take a look at five different types of memorial funds you may consider:
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