Every donor to a charitable organization deserves to have their intentions respected, and followed, to insure prompt and full distribution of the intended funds or assets to the named charity. This is especially true with bequests, as the donor is no longer able to personally oversee and direct payment of his or her gift.
For the named charities, bequests represent an increasingly important source of funding for their charitable missions and good work. Baby Boomers will reportedly transfer over $30 trillion in assets over the next 30-40 years in North America.
At Chisholm Chisholm & Kilpatrick LTD, we understand the importance of these bequests to both the donor and the named beneficiary organizations. CCK’s bequest management practice is comprised of a small team of attorneys and professionals who focus solely on facilitating the timely and full distribution of charitable bequests to their charitable organization clients. Our service provides non-profits with the assurance of honoring the donor’s intent, maximizing bequests, accelerating distribution, eliminating internal administrative burdens, and minimizing administrative costs.
CCK has a dedicated team of professionals focused entirely on this practice, with whom our clients work and get to know. Our clients work with the same assigned professionals, on every matter. This eliminates having to repeat information and send forms and documents repeatedly. This also avoids the clerical errors that can naturally occur with too many hands working on matters with which they are not familiar, and for clients who they do not know.
At CCK, our bequest management practice focuses on the following:
Facilitating the Administration Process, Maximizing Distributions, and Protecting Your Bequest
During the estate administration process, our team works directly with the donor’s personal representative to identify and confirm the bequest and expedite distribution. CCK remains involved on your behalf, serving as a resource to the donor’s representative. In addition to facilitating accurate and prompt distribution, our involvement serves to deter the occasional, but sometimes inevitable, unlawful actions on behalf of some estates that might otherwise contravene the intent of the donor and prove unfavorable to your organization.
Recognizing Potential Administration Issues and Developing Proactive Solutions
Complications may arise during the administration of an estate, including unresponsive personal representatives or litigation brought on by family members or creditors. Our team is experienced in identifying potential legal issues and developing a resolution that facilitates the intent of the donor and ensures that you receive the maximum benefit possible.
Your Personalized Access to Case Information
Our team maintains an up-to-date case database, customized for each non-profit client. This portal is always accessible to your organization, and allows you to monitor your bequest program, our progress on matters, and run your own queries and reports. Our clients have found this access to information invaluable to their donor relations and accounting departments.
Maintaining Donor Relationships
We understand that bequests to your organization are a personal choice for donors and their families. Families may already have an established relationship with your organization. It is our goal to maintain this relationship for future generations and promote a pattern of giving by respecting the intent of the donor.
Our Bequest Management Practice is overseen by founding partner J. Scott Kilpatrick. Our dedicated bequest management team is lead by:
- Attorney Alicia Hoffman, an experienced trusts and estates attorney.
- Ashley Miner, an experienced trusts and estates paralegal.
- Cathy Derrig, our most experienced administrator and systems expert.
This team is supported by the full resources of CCK, a nationwide benefits and litigation law firm, with more than 35 attorneys, and 120 dedicated professionals.
Source: Accenture. The “Greater” Wealth Transfer – Capitalizing on the Intergenerational Shift in Wealth, 2012