Chisholm Chisholm and Kilpatrick LTD has a dedicated team of attorneys and professionals focused entirely on Bequest Management, with whom our clients work closely and get to know. Our team understands the importance of planned giving to non-profits and charities and is dedicated to fulfilling the wishes of your donors while maximizing your gifts and minimizing administrative costs and burdens.
At CCK, our bequest management practice focuses on the following:
- Facilitating the administration process, maximizing distributions, and protecting your bequest.
- Recognizing potential administration issues and developing proactive solutions.
- Your personalized service and access to case information.
- Maintaining donor relationships for current and future generations
What We Do
For charities and non-profit organizations planned giving represents a growing source of funding for their important work. Unfortunately, distributions to non-profits are often delayed, inaccurate, or disputed. The Bequest Management practice at CCK proactively ensures that your organization honors your donors’ wishes, accelerates the distribution of their gifts, and maximizes the impact of the donors’ generosity.
Our team of experienced attorneys and professionals is dedicated to the timely and full distribution of charitable bequests to your non-profit organization. Working on your behalf, we will:
Relieve you of the administrative burden that comes with the receipt of bequests
During the estate administration process, our team identifies the donor’s representative (Executor, Administrator, Trustee, Attorney), works directly with the representative to identify and confirm the bequest (through documentation when possible) and expedite distribution. CCK remains involved on your behalf through the entire estate administration process, serving as a resource to you and the donor’s representative. Our team also regularly works with financial institutions and life insurance companies to facilitate bequests of specific assets (retirement accounts, life insurance policies, annuities, etc.) from donors.
Maximize distributions by facilitating the administration process
In addition to facilitating accurate and prompt distribution, our involvement serves to deter the occasional, but sometimes inevitable, unlawful actions of others that might otherwise contravene the intent of the donor and negatively impact the gift to your organization. Should an issue arise that may impact your bequest, our team is experienced in developing resolutions that facilitate the intent of the donor and ensure that you receive the maximum benefit possible.
Scrutinize all bequest correspondence to safeguard your organization’s legal and financial interests
Complications may arise during the administration of an estate, including tax issues, unresponsive personal representatives, or disputes (including litigation) brought on by family members or creditors. Our team obtains and reviews all gift instruments, probate documents, tax returns, and financial statements relating to your bequest and is experienced in identifying potential legal issues and protecting your interest in the estate. In the event that a bequest becomes the subject of a dispute or litigation, our experienced team of litigation attorneys is prepared to handle or manage any situation which may arise.
When CCK handles your bequest administration, you receive our personal attention. We are headquartered in a centralized office, and you will talk with the same team every time and on every case. This avoids mistakes that are inevitable when matters are handled by different teams, and individuals, scattered in satellite offices.
Give you secure online access to real-time status, and case documents, on your bequests
We provide our clients with an up-to-date case database, customized and accessible for each client. This portal 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.
Nurture the relationships that families have with your organization and promote a pattern of giving in future generations
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 and ensuring that the donor’s wishes are fulfilled
Why partner with CCK?
Every charitable donor 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 the distribution and fulfillment of his or her gift.
For non-profits and 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 distribution of charitable bequests to their non-profit 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.
At CCK, our clients work with the same team of experienced professionals on every matter, whose sole focus is managing your gifts promptly, efficiently, and with attention to detail. This eliminates repeating tasks and clerical errors that often occur with too many hands working on time-sensitive matters with which they are not familiar, and for clients who they do not know. Should an estate administration develop into litigation, Chisholm Chisholm & Kilpatrick – with more than 38 attorneys and 140 dedicated professionals – is able to provide experienced, effective legal representation.
“For many years, [we] invested considerable internal resources to manage matured bequests in a way that fulfilled our sacred duty to the thousands of generous supporters who included our organization in their estate plans. We entrusted this task to CCK about a year ago, and could not be more pleased with the results. We have more hours to devote to direct service to veterans, comfortable in the knowledge that our bequests are in good hands at this fine firm.”
“We take our bequests very seriously, but with a small staff, it can sometimes be overwhelming to deal with complex probate cases. CCK has solved this problem for us with a unique service that is both excellent and economical.”
Cost Effective Fee Structure
CCK’s fee structure is unique in the otherwise expensive world of legal services. Through CCK’s work with non-profits, we understand the importance of minimizing administrative costs. Unlike other law firms and consultants, we do not charge for our bequest management services on an hourly basis. CCK offers our bequest management services on a contingency only basis, receiving a small percentage (3%) of each bequest managed. This also allows our non-profit clients the benefit of utilizing a successful bequest management program without the burden of having to allocate funds from their operating budget on an annual basis.
In the event that a bequest develops into a dispute or even litigation, CCK will continue to handle your matter on a contingency basis. Litigation contingency fees are typically 15 percent. However, each matter is reviewed with the client and our litigation team before determining a final contingency fee. As always, we do not get paid unless your organization does.
Our Bequest Management Practice is overseen by founding partner J. Scott Kilpatrick. Our dedicated bequest management team is led by:
Attorney Alicia Hoffman, an experienced trusts and estates attorney.
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 38 attorneys, and 140 dedicated professionals.
*Source: Accenture. The “Greater” Wealth Transfer – Capitalizing on the Intergenerational Shift in Wealth, 2012
OUR CLIENTS LOVE US, AND SO WILL YOU. SEE WHAT CCK CLIENTS HAVE TO SAY.
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