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Planned Giving - It's About Time
Time is such an important factor
when it comes to all types of fundraising but recognizing its
importance when waging a successful planned giving campaign can be so
advantageous.
For example, contacting someone at
just the right time about a planned gift is like finding gold. I know
that no one can read another person's mind but paying attention to what
your donors are saying
is so helpful.
1. They may mention that they
plan to visit their financial advisor or attorney for a review of their
planning.
2. They may tell you that they
would like to memorialize a recently deceased loved one but don't feel
they can afford it at this time.
3. They may mention to you that
they're expecting a child or grandchild soon
4. They might complain about a
vacation home that is now more bothersome than useful
5. They may express concerns
over investments, interest rates, or income.
If you think of gift planning
along with your other fundraising responsibilities, then you will be able to pick up on these
signals of good timing to discuss:
1. Being included in estate
plans,
2. Using a two-step gift to
create a memorial (current and planned gift combined),
3. Creating a Flip Trust for a
child's future,
4. Funding a charitable
reminder trust with a dormant asset or creating a retained life estate,
5. Donating appreciated
securities to a charitable gift annuity or charitable remainder trust
Each of these situations is
opportune because either you will avoid the possible long wait until
your donor finally sees their advisor to update their will (with you
included), or you solve a problem for the donor (and they usually move
more quickly under this circumstance).
My point is, there's so much time
involved with planned gifts, waiting for the donor to discuss the
matter and say "Yes!", then waiting for them to see their advisor to
make the arrangements, then waiting for the documents (new wills or
trusts, codicils, whatever) to be handled by their advisor and reviewed
by your counsel, etc., and then...the ultimate waiting. You can lessen
the time you have to wait (except for the ultimate wait, of course)
with your own listening for "a special time".
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