Estates and Gift Planning and Tip #1

I was meeting with a friend of mine the other day who has the awesome task of encouraging estate giving in an organization that has not done it successfully before.  I gathered some information that has helped me that I conveyed to him and now to you.

We have to remember that when we ask for a bequest that we are asking people to become like one of their children and be included in what they pass on to their family. This is an awesome responsibility and conveys a level of trust by a person that is remarkable. The biggest crime that charities and faith communities do to their donors, volunteers, and supporters is NOT to ask for giving in this fashion.

In doing this task, we are donor advocates first and promoting our cause second because of the trust that estate donors are placing in our hands. Note the Partnership of Philanthropic Planning Model Standards of the Practice for the Charitable Gift Planner to understand this role.

So some things that guide me:

• people want to give this way but they don't think they know how.
• most people in this country do NOT have wills or trusts and thereby allow state law to dictate their final wishes. Charities and faith communities that they have supported all their lives with their time, talent and financial resources are not included in these state generated estate plans.
• much of the work is "seed planting" by giving people information that they may or may not use.
• you can't guarantee results in estate giving because most people will not tell you their plans before their death.
• most charities and faith communities do NOT provide to their important supporters the basic information on estate giving to their organizations.
• most charities and faith communities do NOT encourage their people to give estate gifts.
• most board members do NOT realize that people have to die to gain these gifts and this is very hard to measure until after the fact.
• most board members do NOT realize that people will give to multiple causes in their estate plan not just their organization.
• most charities and boards do NOT have a plan for how undesignated estate gifts will be used to advance the charity and its future. 
• there is more money than God that will be transferred between the generations in the next 20 years. Some estimates are $41,000,000,000,000 US ($41 trillion) so there will be plenty for everyone.
• Charities and faith communities MUST secure a signed document or digital recording of donor intent for any major and estate giving for the sake of donor's wishes being honored. 
• Charities and faith communities need to honor people who are giving this way while they are alive.
• Donors need to consult with their professional advisers before making this kind of gift.
• most estate gifts will come in the form of bequests and beneficiary designations. 

So here is my first tip to start an estate giving program:

Every letter that is sent out to a donor should have a P.S. encouraging estate giving. This is how at my charity we do that:
     P.S. Help seniors and others forever. Please consider a bequest to the Grand Traverse Pavilions Foundation, EIN 38-3359796.