We are now witnessing the greatest transfer of wealth in history.
As reported by CNBC, a new study from Boston College Center on Wealth and Philanthropy projects that heirs, charities, and taxes will receive $59 trillion between 2007 and 2061. (Yes, that’s trillion with a T!) This is up from a 1999 projection of $41 trillion.
Charities in particular are forecast to receive more than $6 trillion of this wealth transfer, while total gifts to charity during this period are expected to be more than $27 trillion.
Pastor, are you ready for this? Is your church prepared?
Are you encouraging your members, who are forgetting your church in their estate plans, to consider legacy giving?
I recently completed a series of blog posts on the topic of legacy giving.
And with this updated calculation of wealth transfer, what better timing than now to take a quick inventory on how you are doing in this area!
And, just to make it a bit easier, here are direct links to those posts for quick reference:
- 10 Reasons to NOT Implement a Legacy Generosity Strategy in Your Church
- Is Your Church Prepared To Receive the $1 M Check?
- Our Personal Legacy Giving Journey
- The Language of Legacy Giving for Churches
- Legacy Giving: Is It About Tax Avoidance or Eternal Values?
- How to Implement a Legacy Giving Strategy
Are you interested in learning more about how legacy giving can have a long-term impact on your ministry? I would love to start a conversation with you!