Successor Advisor Policy (v0.2 DRAFT)
Structural first-pass draft of how Donor Advisor rights at Xerish Storehouse pass to a successor at incapacity or death. For counsel review only.
Effective Date: DRAFT v0.2 — 2026-05-27 — NOT YET EFFECTIVEDraft Notice
This document is a first-pass structural draft (v0.2) prepared as scaffolding for the attorney who will finalize it. It supersedes the v0.1 placeholder. It is NOT effective.
1. Purpose + Scope
Applies to all Donor Advisory Accounts at Xerish Storehouse. Operates within applicable federal tax law governing donor-advised funds (including IRC §4966 and §4967) and the Sponsor’s governance documents. Nothing here confers ownership of DAF Account assets on any Advisor or successor; the Sponsor at all times retains legal title.
2. Designation Process
An Advisor may designate one or more successor Advisors through the Xerish app at any time. The designation includes the successor’s full legal name, relationship, contact information, and the order of succession. A designation becomes effective upon recording in the Sponsor’s system; the Advisor may revoke or modify it at any time before a triggering event. Counsel to finalize: the maximum number of successor generations permitted (industry norm: one or two).
3. Trigger Events
Successor rights vest upon the earliest of: (a) death of the current Advisor; (b) the current Advisor’s legal incapacity, evidenced under §5; (c) the Advisor’s voluntary immediate transfer of advisory privileges with notice to the Sponsor; or (d) a court order or similar on-request transfer that the Sponsor recognizes under counsel’s review.
4. Acceptance + Notification
Upon a triggering event, the Sponsor will notify the designated successor. The successor must affirmatively accept the role by acknowledging the then-current Donor Advisory Agreement within 90 days of notification. If no designated successor accepts within the period, the remaining balance becomes part of Sponsor’s general grant-making pool, granted under the Recipient Vetting Policy.
5. Sponsor Verification
The Sponsor will require reasonable documentation of any triggering event before acting:
- Death: certified death certificate or equivalent.
- Legal incapacity: a court adjudication, durable power of attorney with current letter from a licensed clinician, or equivalent.
- Voluntary transfer: Advisor’s authenticated affirmative notice through the app.
- Court order: certified copy plus counsel review.
6. Successor Rights + Limitations
A successor Advisor assumes the same advisory privileges as the prior Advisor and is bound by the then-current Donor Advisory Agreement and all Sponsor policies. A successor does not acquire ownership of any DAF Account balance.
7. Account Continuity
Upon successful acceptance, the DAF Account continues without interruption. The transaction history of the prior Advisor remains a permanent record but is not automatically disclosed to the successor except in summary form to balance estate-administration needs and prior-Advisor privacy expectations.
8. Dispute Resolution Among Multiple Claimants
To be finalized by counsel — the process when multiple individuals claim successor status, when designated successors disagree, and the standard the Sponsor will apply (likely deference to clear documentation; otherwise hold and require formal probate adjudication).
9. Revocation + Modification
The Advisor may revoke or modify any designation at any time before a triggering event. After a triggering event, the designation is fixed; the accepted successor may name their own successors under the same terms (subject to the generation limit in §2).
10. Effective Date + Version
Document Key: successor_advisor_policy. Version: v0.2 (first-pass draft for counsel review). Draft Date: 2026-05-27. Effective Date: none; this draft is not yet effective.