The philanthropic landscape is on the cusp of a major transformation. As we move towards 2025 and beyond, trillions of dollars are poised to transfer from one generation to the next, presenting unprecedented opportunities for charitable organizations. However, a significant portion of this wealth may not reach the nonprofit sector if individuals fail to plan for their future. This article will explore how non-profits can strategically integrate legacy planning into their backer acquisition strategy, and how Wills.com provides the tools necessary to make this a reality.
The Opportunity: A Generational Wealth Transfer and the Underserved Market
The coming decade will witness the largest transfer of wealth in history, as baby boomers pass on their assets to the next generation. Estimates suggest that trillions of dollars are set to change hands, a portion of which will be designated for charitable giving. However, a major challenge remains: a significant portion of the population has not created a will or other estate plan. In the United States alone, it’s estimated that 67% of people lack a will, which means that a significant portion of potential charitable gifts will be lost or misdirected.
This creates a unique opportunity for non-profits to engage with their supporters and encourage them to include their organization in their estate plans. By integrating legacy giving into their backer acquisition strategy, non-profits can tap into a substantial and often overlooked source of funding. This is not about chasing donations, but about connecting with people on a deeper level, and empowering them to pass on their values and passions to the generations that follow.
The Challenge: Overcoming Barriers to Legacy Giving
While the potential for legacy giving is huge, many nonprofits struggle to integrate it into their acquisition strategies. Some of the challenges include:
- Lack of Awareness: Many people are simply unaware of the importance of estate planning or how they can include charitable organizations in their wills or trusts.
- Perceived Complexity: The process of creating a will or trust can seem overwhelming and expensive, deterring potential backers from taking action.
- Difficulty Engaging with Supporters: Nonprofits may lack the tools or strategies to effectively engage with their supporters about legacy giving in a way that feels both personal and accessible.
- Limited Resources: Many organizations have limited resources to dedicate to a comprehensive legacy giving program.
- Lack of Transparency: Many nonprofits struggle with transparency, and how to clearly convey their message to prospective backers.
These challenges can create barriers that prevent charitable organizations from accessing the full potential of legacy giving. However, with the right tools and strategies, these barriers can be overcome.
The Solution: Streamlining Backer Onboarding with Wills.com
Wills.com offers a unique solution to these challenges, by providing a platform that simplifies the estate planning process, making it more accessible and affordable for everyone. Wills.com also provides tools to connect non-profits with their backers, in a seamless and secure way. The Wills.com platform provides a powerful solution to these challenges, by making it easy to onboard new backers, and also providing a clear and secure method for receiving charitable gifts. By using Wills.com, non-profits can overcome these obstacles and maximize their potential for legacy giving.
Here’s how Wills.com can help non-profits streamline backer onboarding for charitable giving:
- Accessible Platform: Wills.com makes estate planning easy and affordable, removing a key barrier for potential backers. This provides a seamless path for them to include your organization in their estate plans.
- Clear Instructions and Support: Our platform provides clear instructions and resources that make it easy for your backers to create a will or trust, and include your organization as a beneficiary.
- Secure Document Storage: We provide secure storage for all estate planning documents, ensuring that all legal documents are safely preserved, and can be easily accessed by their executors.
- Automated Delivery: The Wills app will deliver all the necessary documentation and instructions to the specified executor in a timely manner, ensuring your organization receives the bequest as per the testator’s wishes.
- Charity Business Accounts (CBA): Our platform allows charities to onboard their supporters who want to leave them a planned gift, providing tools to track contributions and ensure that all documentation is easily accessed when it is needed.
- Anonymized Reports: Charities can receive anonymized reports summarizing the total backers and assets bequest to their organization, all while protecting the privacy of their supporters.
By partnering with Wills.com, non-profits can provide their backers with a valuable service, while also securing a pipeline for future funding, and creating a lasting partnership between your organization and its supporters.
Integrating Legacy Giving into Your Acquisition Strategy in 2025
To maximize the potential of legacy giving, non-profits must adopt a comprehensive and strategic approach. Here are some practical steps you can take:
- Educate Your Supporters: Host workshops, webinars, or online content to educate your supporters about the importance of estate planning and the benefits of legacy giving. Highlight how they can make a lasting impact on their communities.
- Offer Accessible Tools: Provide your supporters with easy access to tools and resources for creating a will or trust, such as providing a link to Wills.com, making the process seamless and affordable.
- Make it Personal: Connect with your supporters on a personal level, and understand their values and passions. Show them how their legacy can align with the mission of your organization.
- Highlight the Impact: Showcase the impact that legacy gifts have on your organization’s mission and the communities you serve. Use real-world examples to demonstrate the importance of planned giving.
- Provide Clear Instructions: Offer your supporters step-by-step guidance on how to include your organization in their will or trust, including your legal name, address, and EIN. Make the process as easy and as transparent as possible.
- Offer Recognition and Appreciation: Recognize and appreciate your backers who have made legacy gifts, creating a sense of community and gratitude. Provide your supporters with an opportunity to share their story or the reasons for their gift.
- Utilize Technology: Integrate technology into your legacy giving program to streamline the process and make it more convenient for your supporters. The Wills.com platform will offer you the ability to automate and streamline this process for your organization.
- Partner with Wills.com: By partnering with Wills.com you can offer your users a secure and easy to use platform that allows for simple estate planning and secure delivery of your supporters wishes.
The Power of a Comprehensive Approach
A successful legacy giving program is not just about securing future funds; it’s about building lasting relationships with your supporters, and creating a community of individuals who are deeply connected to your mission, and are committed to supporting you far into the future. By integrating legacy giving into your backer acquisition strategy, you can create a powerful synergy that strengthens your organization and ensures the longevity of your impact. When you demonstrate that you are not only working to make the world a better place in the present, but are also making sure that you will continue to make a difference in the future, it will be an appealing message for potential backers.
Wills.com: Your Partner in Legacy Giving
Wills.com is designed to be a partner for non-profit organizations seeking to maximize their potential in legacy giving. We provide you with the tools you need to streamline backer onboarding, while also making sure that the process is simple, secure, and effective for both your organization, and your supporters. By using Wills.com you can empower your supporters to make a lasting impact, while also securing a strong financial future for your organization.
We believe that by combining technology with accessibility, and a clear understanding of your organization’s needs, we can provide you with the tools you need to create a successful and sustainable legacy program. We want to work with you, to ensure that you will be able to continue your work in your community for many years to come.
Conclusion: Embracing the Future of Philanthropy
The upcoming generational wealth transfer presents an unprecedented opportunity for non-profit organizations to tap into a substantial source of funding. By integrating legacy giving into your backer acquisition strategy, you can unlock the potential for long-term financial stability and increase your impact on the communities you serve. This is more than just a funding opportunity, it is a chance to empower your supporters to pass on their values, their passions, and their commitments to the future generations. With Wills.com as your partner, you can simplify this process, make it more accessible, and ensure that your organization is well-positioned to thrive in 2025 and beyond.