Planning for Wealth Transfer, Part 1

Having already established relationships with prospects will be the key to taking advantage of the wealth transfer. Therefore, Matthews stressed the need to create a robust planned-giving program now and beginning to develop those relationships. He noted the following seven steps to starting a planned giving program:

1. Get institutional commitment. Has the board given its approval? Are the CEO and management teams fully supportive? Has the board passed resolutions that may be required by state law? And, most of all, Matthews said, "Make sure the CEO and board understand this is an investment that won't be felt for years."