The Best Advisors Provide Planning That Survives Generations
The key to success in any financial or estate plan is implementation. Success or failure of even the best plans often comes down to executing on the details – updating beneficiary designations, changing title of assets, or creating a trust document.
Completing these details is only the beginning for the charitable portions of your clients’ plans. What happens if the nonprofit your client loves today is gone tomorrow, or if the trustee of their private foundation passes away? Even the best plans can’t anticipate the full range of what the future may bring, but there is a way to accommodate this.
Today’s clients are expecting more than just a solid plan, they are expecting stewardship. They want to know that their intentions for charitable gifts won’t be lost over time, and the best advisors provide them with even more: the opportunity to be remembered and to have their personal stories live on in our community.
Here are some of the ways that the Community Foundation can help set you apart from your competition by delivering on stewardship:
- Creating their legacy plan: We strive to help individuals who care about this community to be remembered by it. Your clients can work with us using guided writing exercises and values-based discussions to document their personal giving story and wishes for the future use of their charitable legacy fund, in their own legacy plan.
- Making it easy for them to change their plan: Once a legacy plan is created, the will or other beneficiary designations can simply direct funds to the Community Foundation to be used as instructed. Any updates to the legacy plan require no changes to the formal financial or estate plan.
- Helping them determine the right type of gift: Legacy planning can be much more than a simple bequest. There are a variety of techniques available for your clients who want to provide for loved ones, reduce taxes, and support worthy causes. We will work with you and your client to find the gift that achieves their goals.
- Facilitating family philanthropy: Many times people don’t share their giving plan with their family. They often think that the family “just gets it”. Unfortunately, this is rarely the case. The Community Foundation can work with your client to effectively share their philanthropic plan with their family.
- Keeping their legacy alive: The Community Foundation has been fulfilling the charitable wishes of people in our community since 1927. Your clients will know that even 100 years after they are gone, their gift will be actively achieving their goals and their story will live on.
- Legacy planning work rarely costs your clients anything because the work of preserving the stories of our donors is part of our nonprofit mission. We know that capturing this information makes our community stronger, builds pride in our region and keeps the stories of generous people from dying with them. If you have a client with charitable interests, we hope you will let us be your partner in stewardship.
To learn more about our legacy planning, stewardship, and ways we can work with you and your clients, go to www.cnycf.org/advisors or contact Tom Griffith, Director of Gift Planning at firstname.lastname@example.org.