publication date: May 28, 2012
author/source: Janet Gadeski
So where's all the money?
Remember all the excitement about the billion-dollar (or
more) wealth transfer? Most charities haven't seen the windfall they were told
to expect. In Gift Planning in Canada
, Helen DeBoer-Daggett
thinking about those missing-in-action legacy donors. Here's what she's
People are living longer and need their money
for retirement living. And if they're affluent, they may be surrounded by
gatekeepers: friends, family and advisors.
Some older donors have lost faith in the
management and effectiveness of the charities they once supported.
A donor's power of attorney who isn't familiar
with the donor's lifetime commitment to a charity may steer the donor towards
conventional, seemingly logical bequests to family rather than charities.
Many women lose their husbands before old age.
The average age of widowhood in Canada is 56. At that age, a widow may still
have dependent children and elder care responsibilities, all supported by a
substantially reduced income.
Poor stewardship by charities. For all of the
reasons above, charities can't take a legacy for granted even after donors have
recorded their intention.
What's the one factor over which you have most control? The
last one, of course. Keep communicating with our legacy donors, DeBoer-Daggett
urges. Thank them. Engage them. Share how their investment is changing the
future of our world for the better. It's the best case for support you have to
Each month's issue of Gift
Planning in Canada
gives you tips and strategies to do just that - keeping
your legacy donors close and proud. And there's more - how to identify your
best candidates for bequests, how to cultivate, and how to ask for that
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