Slide 1: Welcome! Welcome to the first lesson in module four on planned giving administration. In the last course you learned about donor centered giving. In this lesson we will set the context for other lessons in this module by introducing legacy management. Slide 2: Learning Objectives After this lesson you will be able to define legacy management, discuss how to structure a planned giving strategy with legacy management in mind, and present an overview of the administration of planned gifts to fulfill obligations for legacy management. Let's get started. Slide 3: The Scope of Legacy Management While working in planned giving you will touch on the issues of making sure the charitable gifts of your donors outlive them. As a development …show more content…
There are many examples of estate gifts that were structured in the most appropriate way but there was still a breakdown in execution by the executor, trustee, or family. This kind of breakdown can cause irreversible damage to the donor's legacy. Such damage can take many forms, but mostly it results in a reduction in funds available for the charity, and ultimately a negative impact on their legacy. Slide: Defining Legacy Management I want to present the context of planned giving in what we call legacy management. For our purposes in this course I will define legacy management as fulfilling, advocating, and promoting the legacy of the donor. This includes the information you gather from the donor and capturing the story of the donor, and helping future generations know the person behind the name that may appear on a scholarship, on a classroom, on a building, or on a donor wall. Slide: Making Legacy Management a Priority As we are working with donors we should structure their planned giving with legacy management in mind. If we keep the end in mind then we will do a better job of structuring the donor's planned …show more content…
We also made sure to work with the donor to build relationships with his trustee and the other charities that will benefit from his estate. We established relationships with the major charities in his plan so they were aware of his plans with us. This was beneficial for a couple of reasons. First, we set the bar for the other charities so the donor then required them to provide him with clear documentation of how they would utilize his gift. This provided his trustee with a complete and fully documented legacy plan. Second, it systematized his legacy plan so all parties involved were working in concert with one another to manage his legacy. Let me highlight a few points touched on in this story. It's important to have relationship and open lines of communication with a trustee because that person will be the one responsible for executing the estate plan. This communication will allow us to make sure the trustee doesn't take liberties with the plan or make decisions that would be counter to the intentions of the donor. This scenario stands in stark contrast to the typical plan. Slide: A Typical