How To Normalize the Conversation Around Estate Donations
Legacy gifts are a long-term investment rather than an immediate funding gain, and for some organizations, they fall by the wayside. However, estate gifts are some of the most crucial tools for stabilizing an organization’s bottom line and should be part of any forward-thinking fundraising strategy. Because these gifts provide long-term financial predictability, they let your leadership team create an accurate forecast for future organizational growth and programming.
Since end-of-life planning can be an incredibly delicate topic, many fundraisers hesitate to bring it up in conversations with donors. However, you can make these discussions comfortable and routine with the right internal preparation and external approach. Follow these 4 strategies to center legacy giving conversations around your donors’ long-term positive impact on your cause.
1. Conduct prospect research beforehand.
Not every supporter in your database is an ideal candidate for planned giving. DonorSearch’s prospect research guide can help you identify prime candidates based on affinity, wealth capacity, philanthropic leanings, and demonstrated end-of-life planning.
Use these markers to identify individuals who are potential candidates for your planned giving program:
- Giving consistency: Look for individuals who have given consistently over many years. Long-term loyalty is often a better indicator for legacy giving than a single massive major gift.
- Major life milestones: Monitor your database for supporters who may be experiencing major life events (e.g., retiring, getting married, having a child), as these are natural times people update their financial plans.
- Philanthropic affinity: If a donor has a history of giving or contributing to nonprofit organizations similar to yours, such as through major gifts or board service, they may be open to giving to your organization.
When approaching legacy donors specifically, it’s also important to determine whether they have an end-of-life plan. Individuals with life insurance or a will have likely already thought about their potential legacy, and may be open to a conversation about planned gifts.
2. Normalize the topic internally with your team.
Many nonprofits hesitate to even develop a legacy gift strategy. Before taking this to supporters, your development department must feel entirely comfortable discussing end-of-life giving internally and with organizational leadership.
Here are some strategies to normalize the conversation around planned gifts:
- Conduct staff training sessions. Use role-playing exercises so gift officers can practice answering difficult questions and gracefully navigating emotional responses.
- Integrate legacy language into everyday marketing. Routinely mentioning estate giving in standard newsletters or annual reports introduces the concept, making the eventual direct conversation feel less abrupt.
- Emphasize impact. Create a presentation showing the real-life social impact of legacy gifts for nonprofit budgets to your organizational leadership, development, and marketing teams. If your team is on board with planned giving as the backbone of your long-term financial forecast, they can better allocate resources to support it.
When your team is aligned on your legacy giving approach, they can better log and follow up with prospects. Have staff members send your development team any community members they engage with who may possess the prospect indicators of a potential legacy benefactor.
3. Approach the actual conversations around estate donations with a strategy.
Legacy gift conversations require a different approach than standard donation request letters or even major gift asks. Once you’ve identified supporters likely to be interested in contributing a legacy gift, use these tips from FreeWill’s planned giving guide to cultivate a successful ask:
- Prioritize donor preferences. Legacy gift conversations should happen in the setting the prospect finds most comfortable—whether in person or via video—including any family members or trusted advisors they may choose to invite.
- Frame the conversation around their values. Fundraisers should ask the individual what impact they want to leave on the world, rather than diving straight into tax benefits or legal jargon.
- Prepare an impact report. Before creating the ask, provide a personalized impact report celebrating the donor’s past support of your organization, illustrating how a future legacy gift would permanently sustain the specific programs they care about most.
- Provide clear and accessible literature. Have simple, easy-to-read materials ready that explain the exact steps to finalize a commitment, removing any confusing administrative friction. A planned giving microsite is a great catch-all resource for explaining these gifts and providing relevant tools for estate planning.
- Create a plan together. Both your organization and your prospect likely have an idea of what you want your gift to be. Use your conversation to nail down details of major milestones, giving over time, and anticipated impact so both of your goals are aligned.
After your conversation, create a formal request to present to your donor, outlining your stated goals, pledged gift amount, and anticipated impact. To secure and formalize their gift to your organization, invest in tools that facilitate bequests and beneficiary designations
4. Continue stewarding relationships with legacy donors.
Securing the verbal or written commitment for an estate gift is the beginning of a years-long, or even decades-long, stewardship journey. Legacy donors tend to continue making annual gifts in addition to their promised contribution, so it’s important that they stay up-to-date and engaged with your organization.
After you’ve secured a legacy gift, inform those donors of major milestones, long-term impact, and significant organizational shifts so they maintain their involvement and trust in your organization. Be sure to use the following best practices in your stewardship strategy:
- Always say thank you. Send regular communications about the status of your organization and thank them for their trust. Inform them of major gift campaigns and large events, so they know your organization is still active and thriving.
- Maintain a consistent communication cadence. Your legacy donors should never feel forgotten. Send regular, personalized updates showing exactly how their future contribution will secure the mission’s future. Include impact reports on your funds raised, tangible community effect, and overall operational success so they feel confident in their decision to give.
- Create a legacy society. Form an exclusive group that honors those who have made planned commitments. Regularly plan special luncheons or behind-the-scenes tours.
Legacy gifts are a lifelong partnership. Make sure your donors feel included in your organization, planning, and growth through regular communications and follow-up. After all, they are securing your future.
Talking about estate planning does not have to be morbid or uncomfortable. When handled with care, research, and empathy, it becomes a deeply meaningful conversation about an individual’s enduring values and the permanent mark they wish to leave on their community. If you haven’t already, start including your legacy benefactors in your community today to show your appreciation for their gifts and the mark they will leave on your organization in the future.
