Transfer of Wealth

Securing Our Future

The power of giving together.

In 50 years, $972 billion is expected to pass from one generation to the next in Michigan. In just 10 years, almost $135 billion will have transferred.

National research projects a $53 trillion transfer of wealth across the United States. But while the average transfer nationwide will peak after 50 years, wealth transfer in many Michigan counties will crest in twenty to thirty years.

Much of this wealth is currently invested in family homes and farms, retirement accounts and other appreciated assets—some of which may be heavily taxed if given to heirs.  

A one-time opportunity to create permanent benefits for Michigan

If only 5% of this wealth was earmarked for charitable endowment, the resulting $48.6 billion fund would generate hundreds of millions of dollars every year for local community projects and priorities across the state—forever.

Michigan community foundations have established endowments focused on improving quality of life in each community, including the one you call home.

Ways to give

If you are retired, a planned gift from your estate may be more attractive to you and your family than a large gift today. You can leave a permanent legacy of giving, be a source of pride to your family and join others like you to build a stronger community.

Three easy ways to make a planned gift to your Community Legacy Fund include:

• Designate your local community foundation as the beneficiary of your IRA, 401(k) or other retirement account
  These assets can lose up to 70% of their value when passed to heirs; changing the beneficiary designation does not involve modifying your estate plan.
• Designate your local community foundation as the beneficiary of a life insurance policy
  There is no need to modify your estate plan.
• Ask your attorney to add the community foundation to your estate plan

Talk to your professional advisor and your local community foundation to learn about all of your giving options and choose the one that’s right for you and your community.