by Ashley Coldiron, Chief Development Officer
A major wealth transfer is underway as Baby Boomers prepare to pass assets to their Gen X and Millennial children. The numbers are staggering—$124 trillion in U.S. wealth is expected to change hands by 2048, with $105 trillion going to heirs and $18 trillion earmarked for philanthropy.
For advisors, this is a pivotal moment to help clients integrate charitable giving into their financial and estate plans. The Community Foundation is here to assist with strategies that ensure clients’ philanthropic wishes are fulfilled.
Key reasons to prioritize charitable planning:
- Bridging the Knowledge Gap – Many clients are unaware of tax-efficient giving options. They may still write checks to charities without realizing the benefits of donating appreciated stock or using donor-advised funds.
- Advanced Giving Strategies – High-net-worth clients often require sophisticated planning to optimize tax benefits and maximize their philanthropic impact. Structuring gifts of complex assets, such as closely held business interests, can provide both financial and charitable advantages.
- Proactive Legacy Planning – Waiting to incorporate philanthropy into an estate plan can be a missed opportunity. Naming a fund at the Community Foundation as an IRA beneficiary, for example, is a highly tax-efficient way to support charitable causes.
By leveraging our expertise, you not only enhance your clients’ financial plans but also deepen your relationships and strengthen retention. Let’s work together to ensure your clients’ legacies reflect their values while achieving their financial goals.