Daffy's Legacy Plan allows members to designate what happens to their Daffy account in the event of their death. Members can name an individual successor or a charitable beneficiary.
Adding a Successor
A successor is an individual who takes over as the organizer of a member's Daffy account. All successors must meet Daffy's eligibility criteria.
If a successor is unreachable, unavailable, or unwilling to take responsibility for the account, any remaining balance will be transferred to Daffy's general charitable fund.
To add a successor:
On Web
Add the successor's information
On iOS
Tap the gear icon in the top right
Select Your Account, then Legacy Plan
Add the successor's information
Adding a Charitable Beneficiary
A charitable beneficiary is a charity or nonprofit that receives the full account balance upon a member's death. Upon notification, Daffy will review the designation and send an unrestricted donation of the full balance to the named organization.
Members are responsible for ensuring Daffy has the correct contact information for the organization and that the organization remains in good standing with the IRS. Currently, only one charitable beneficiary can be named per Daffy account.
To add a charitable beneficiary:
On Web
Add the charity's name and federal tax ID (EIN)
Click Save Instructions
On iOS
Tap the gear icon in the top right
Select Your Account, then Legacy Plan
Add the charity's name and federal tax ID (EIN)
Additional Information
If a Daffy fund has another organizer, that person remains on the account, and the successor or charitable beneficiary will not be contacted.
Any remaining account balance will be transferred to Daffy's general charitable fund if:
No successor or charitable beneficiary has been named.
The named successor is unreachable, unavailable, or unwilling.
The charitable beneficiary is unreachable, no longer operable, or ineligible per IRS regulations.
For more details, see the Legacy Planning section of the Member Agreement.