It’s Not a Trend, Bequests are Here to Stay

It’s Not a Trend, Bequests are Here to Stay

It’s Not a Trend, Bequests are Here to Stay

Bequests, any gift made as part of a will or trust, continue to be the most common legacy gift, and their popularity is not waning. 

It is estimated by Giving USA 2023: The Annual Report on Philanthropy for the Year 2022 that $45.6 billion was contributed through charitable bequests last year. This type of gift represented more than 10% of total giving in the last year and is expected to grow throughout the next 20 years.

It is predicted that bequests will remain a popular future gift during this time because of the flexibility it offers. For example, a bequest can be made for a specific amount, for a percentage of your estate, or for all or a portion of what is left after you have provided for your family.

Financial market intelligence firm Cerulli and Associates predicts that many Baby Boomers and the Silent Generation will pass down most of their wealth to immediate families and favorite charitable causes because of their effective planning. Commonly referred to as the Great Wealth Transfer, it is estimated that $11.9 trillion will be directed to charities through direct gifts or bequests by 2045. 

Contact Whitney Strang, Director of Development, at 618-695-2489 x114 or whitney.strang@ondessonk.com if you’d like to learn if a bequest would be a good option for you, or if you would like sample language to include Camp Ondessonk in your future plans.

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