I am a CFP professional and Enrolled Agent. I specialize in financial planning, investment management, and tax planning. I have a Master's degree in Personal Financial Planning and owner of Over Coffee Financial in Cleveland, OH.
A certificate of deposit will give you a better return than a checking account. For example, you can secure a one-year CD today with a 1.25 percent return or a five-year term for a 2.25 percent return.
You can maximize the returns on your $10,000 even if you expect to need those funds in the near future.
For assets other than cash, like cars, boats, houses, land, antiques, paintings, manuscripts, etc., the documentation becomes much more complicated, with many of these items requiring a certified appraisal. So giving things other than cash should always come with the caveat that the donor should contact their accountant, attorney or financial advisor.