Between the biggest wealth transfer in human history and the effects of a global pandemic, nonprofits have an unprecedented opportunity to grow planned gifts. In preparation, FreeWill has prepared one of the most in-depth reports ever created on the biggest trends of legacy giving.
Over the next 25 years, Baby Boomers will pass on more than $30 trillion in wealth to the next generation — and their decisions on who to leave it to are being decided right now. The Coronavirus pandemic has spurred a rapid rise in estate planning and planned giving, as well as a drop in cash gifts due to economic uncertainty. Coupled with recent changes to the tax code that have affected annual gifts, planned giving represents an opportunity for nonprofits to more than make up for losses and support their mission for years to come.
FreeWill’s second annual Planned Giving Report analyzes data from more than 80,000 wills created with our free online will-writing tool over the past year. In this in-depth report, we highlight key trends across age, gender, marital status, geography, and other key metrics like pet ownership. We’ve also included a brand new section detailing the effects of the Coronavirus pandemic on planned gifts and nonprofit teams.