The Great Wealth Transfer: Will wishes really come true?

by Laurie Valentine, JD

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For years, experts have talked about the coming “Great Wealth Transfer”—the massive movement of wealth expected to pass from Baby Boomers to younger generations over the next two decades.  

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But are you seeing it at your organization? You probably are, even if it is not yet taking the form of a wave of large cash gifts. Here are the nuanced trends to watch for evidence that the transfer is underway:

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• More donors are engaging in estate and legacy planning conversations that include charitable gifts.

• Larger gifts involving appreciated assets, donor advised funds, and planned giving vehicles are becoming more common.

• Families are increasingly involving children and grandchildren in philanthropic decisions earlier than in previous generations.

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With these trends in mind, now is a good time to strengthen your organization's focus on:

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• Planned giving, including estate gifts and beneficiary designations

• Gifts from donor advised funds

• Gifts of complex, noncash assets  

• Multigenerational and family philanthropy engagement  

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Here are three examples of how Community Foundation Tampa Bay can support your organization as wealth changes hands:

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1. Our team can help your organization build long-term financial stability by housing and administering your endowment or reserve fund. The Community Foundation’s ongoing professional investment management and back office services can help you create permanent charitable resources designed to support your mission for generations to come.

2. Many donors involved in the Great Wealth Transfer hold significant wealth in noncash assets such as appreciated stock, real estate, closely held business interests, retirement assets, cryptocurrency, collectibles, and other complex property. The Community Foundation can help you facilitate these gifts by accepting, liquidating, and administering assets that your organization may not be equipped to handle directly.

3. The team at the Community Foundation is happy to offer insights to help strengthen your organization’s planned giving efforts. Please reach out to learn about upcoming technical assistance, education opportunities, and capacity-building resources.  

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Finally, remember that much of the Great Wealth Transfer is still in its early stages. Baby Boomers continue to control a significant share of U.S. wealth, meaning much of the charitable transfer activity is expected to unfold over the next 10 to 20 years as estates settle and multigenerational planning continues. We look forward to working alongside your organization as you prepare for these opportunities and continue building long-term community impact.

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Laurie Valentine, JD, Senior Counsel of Philanthropic Giving at Community Foundation Tampa Bay, has served as part of the staff since 2022. With expertise in charitable giving, estate planning, and nonprofit law, she helps professional advisors, philanthropically minded individuals, and families navigate and create impactful legacies in Tampa Bay. She can be reached by phone at (813) 692-1880 or via email at lvalentine@cftampabay.org.

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