Changing demographics are becoming a catalyst for the Foundation’s increased role in many estate plans. For example, not having children is becoming more common, both among millennials and older people. According to a study conducted by the Pew Research Center, 20% of U.S. adults age 50 and older hadn’t had children. In addition, children of affluent parents tend to move away, which means that many parents embrace the notion that working with the Foundation can help children maintain ties to their childhood community even across generations.
Many people don’t realize that a mix of charitable giving vehicles works well to achieve your charitable goals whether or not you have children. For example, if you have children, you can work with the Foundation to explore naming them as successor advisors on your donor-advised fund to carry on your philanthropic priorities beyond your lifetime. If you don’t have children, your donor-advised fund can roll into your designated fund or unrestricted fund following your death.
Indeed, many people who don’t have children and people who do have children feel a strong sense of peace of mind knowing that the Foundation will be involved with their charitable legacy long after their lifetimes, whether through advising children and grandchildren or administering charitable bequests for maximum community impact. The Foundation always has its finger on the pulse of our region’s greatest needs and the nonprofits that are meeting those needs at any given point in time, whether right now or decades in the future.
Reach out to the team at The Foundation for Delaware County to learn more about how we can help you leave a legacy across generations. We’re here to help!
Monika Collins: mcollins@delcofoundation.org; 610-744-1015
Laura Sindoni: lsindoni@delcofoundation.org; 610-744-1013
