results

Are Your Legacy Donors Spiteful?

Greg Warner is CEO and Founder of MarketSmart, a revolutionary marketing software and services firm that helps nonprofits raise more for less. In 2012 Greg coined the phrase “Engagement Fundraising” to encapsulate his breakthrough fundraising formula for achieving extraordinary results. Using their own innovative strategies and technologies, MarketSmart helps fundraisers around the world zero in on the donors most ready to support their organizations and institutions with major and legacy gifts.

Sad but true.  Many legacy donors simply don’t want to see their hard-earned money going to their relatives.
Top reasons why?
1- Because they think they’ll “blow it all”!
2- Because they’ll waste it.
3- Because they won’t appreciate it.
4- Because they simply don’t deserve it!
 
Here are three quotes from real donors found in AFP’s 2008 report on bequest giving:
‘When (my mother) died she gave the money to the five of us kids and I watched two of my siblings just rip through the money, it was just an unbelievable waste and I thought, I don’t have any kids and I had originally had my will going to my siblings and then I thought – why?? They’d do the same thing with my hard earned money.’ 
‘I’d reached a point where I said.. you know what … I’m happy to leave them something but I worked damm hard for all this and I just kind of, it sounds petty, but I don’t want to necessarily make it easy for them when they have often made choices to work a lot less hard than I have…’ 
‘My fiancé is very aligned with me in the sense of not wanting … wanting to give a gift to family, but not wanting to give them everything and make it too easy’ 

2 responses to “Are Your Legacy Donors Spiteful?”

  1. I think that it’s more about the loving than the giving. People will leave money to loved ones (and things) to secure quality of life like education and housing…a continuation of maintaining lifestyle. If they have children who are irresponsible then a trust is in order. Same with a nonprofit, if people love what it does, they’ll include it in their estate plan…a continuation of mission and their participation. How and what they leave determines the type of gift they’ll make and what it is.

  2. I think that it’s more about the loving than the giving. People will leave money to loved ones (and things) to secure quality of life like education and housing…a continuation of maintaining lifestyle. If they have children who are irresponsible then a trust is in order. Same with a nonprofit, if people love what it does, they’ll include it in their estate plan…a continuation of mission and their participation. How and what they leave determines the type of gift they’ll make and what it is.

Leave a Reply

Your email address will not be published. Required fields are marked *

Get smarter!
Get smarter with the SmartIdeas blog

Subscribe to our blog today and get actionable fundraising ideas delivered straight to your inbox!