Ethical wills -- how to transfer your personal legacy

1. Ethical wills -- how to transfer your personal legacy And close some planned gifts along the way! Richard Ely Strategic Fundraising Consultants

3. Disclaimers and dampening expectations

4. Dampening expectations Not the be all and end all of planned giving Not the mother lode of prospects Not a magical access points to all the prospects you could possible call on

5. Planned giving marketing Success depends on many approaches Not just one technique that will make all the difference The more techniques you use, the better The fresher your topics, the better

6. The 5 I�s

7. Marketing techniques Direct marketing -- getting prospects to self-identify direct mail (letters, postcards, newsletters) workshops/seminars articles in newsletters ads in your publications blogs and social networking

8. How many�?

9. Personal calling You take the initiative to identify and call on prospects face-to-face appointments

10. How many�?

11. Today�s theme Ethical wills can help your marketing Disclaimer: can�t be stand-alone Makes a great add-on Could be important -- a potentially valuable technique

12. Ethical wills

13. Brief history Ideas behind ethical wills Examples Forms Resources

16. Brief history Began in Jewish Scriptures Gen 49. Jacob�s Testament Dt 33: Moses farewell Continued in Christian Scriptures John 15-17: Jesus� Farewell Discourse Tapered off during Middle Ages Coming back over the recent past

17. Do you need three wills? Legal/financial wills Living wills Ethical wills

18. Legal/financial wills Bequeath valuables Come into play after death

19. Living wills Contain specific instructions about medical care Come into play when a person is not able to communicate his/her issues related to end of life issues

20. Bequeath values Can come into play during life Can be an important link between generations Ethical wills

21. The human side How can your heirs know the �why� of your life and your estate plan the values that motivate you the blessings that you wish to give the lessons you wish to teach

22. Some of the questions� Have I fulfilled my purpose? What will I be remembered for? What kind of legacy have I passed (or would like to pass) along? What do I want others to know about my life, values, experiences, etc?

23. An opportunity to Reflect on one�s past: who I have become Clarify values in the present Project into the future one�s hopes, wishes and requests

24. Benefits of an ethical will Learn about and reflect on one�s life Articulate one�s values Convey feelings, thoughts and �truths� Express regrets and apologies Open door to forgiveness Come to terms with mortality

25. When to write an ethical will Times of transition and change marriage or divorce (of self or others) birth or death important birthdays serious illness or surgery

26. Examples of themes Importance of family Religion and spirituality Importance of education or experience Necessity to learn from mistakes Importance of honesty and integrity Importance of giving and receiving

27. More examples Good and evil; ethical dilemmas Importance of humor Lessons learned Hopes for the future Love expressed Requests

28. Possible exercises What�s important to me? Personal narratives Important decisions made or not made Hopes for the future What will I miss when I�m gone?

29. Questions about values: rank Cultural: art, music, travel Economic: financial responsibility, frugality, savings Education: self-improvement, enlightenment, lifelong learning Emotional: compassion, kindness, generosity Ethical: honesty, fairness, justice Material: possessions, social standing, rank, title Personal: modesty, loyalty, independence, pride Philanthropic: volunteerism, financial support Physical: health, relaxation, exercise, appearance Service: citizenship, community involvement, volunteer leadership Recreation: sports, leisure time, hobbies, vacations Relationships: family, friends, colleagues Spiritual: church, faith, inner peace Work: effort, competence, professional recognition, success

30. When to share an ethical will As death approaches Special family gatherings Attached to legal/financial will

31. Dangers Instill blame or guilt Denounce survivors or control their lives Using platitudes and truisms

32. Antidotes Avoid lots of �you� language Focus on �I� language

33. Ethical wills and planned giving

35. Common themes Charitable giving reflects values Necessary to draw out donors Necessary to match values Especially with planned giving -- giving from assets rather than income

36. The question is� How do you do that?

37. Ethical wills can help Through direct marketing In face-to-face situations

38. Direct marketing Newsletter articles (see Google) Brochures (evolution of title -- �ethical wills� to �sharing your values� to �how will you be remembered� Workshops One planner gives donors Baines book

39. Some cautions Some gift planners feel talking about ethical wills and planned giving is �bait and switch�

40. Specifically� My planned giving committee expressed the concern that recording one's values is NOT THE SAME as preparing a document that�transfers assets. The committee was concerned (as was I) that if we wanted to invite people to a seminar to learn how to write an ethical will that we could not then say, "Oh, and by the way, while you're doing that, please leave us money."

41. Workshops Specific workshop on ethical wills As part of broader estate planning workshop

42. An example I am sitting in a donor/prospect estate planning seminar where the attorney speaker is weaving in the ethical will concept. �As she gets to each basic estate planning concept, she is raising the idea of explaining your values to your heirs (either in the documents themselves or in a separate ethical will). �

43. A similar concept "The Wisdom Project�: our constituents write a story about an event/teaching etc. that changed their lives. Workshops with our donors, but not for the purpose of encouraging an estate gift. Rather, as a way of emotionally connecting the people we serve with the people we're helping.

44. Ethical wills workshops Estate planning workshops are �a dime a dozen� Allows one gift planner access to hospitals, financial planners, churches, Rotary, Kiwanis, etc. Allows him access to many more people with a fresh topic Invites donors to charity-specific event

45. Benefits of workshops Get to know people in much less threatening way People share values with each other People really appreciate the opportunity to think through these issues (sharing my story, remembering things I�d forgotten, thinking about how I�d like to be remembered)

46. Another gift planner� Created workbook (simple notebook) values inventory financial inventory how to make a gift Offered workbook as a service to donors Offers them to donors Includes Beethoven�s Heiligenstadt Testament

47. In the workbook� These old wills are replete with clues about the values of my ancestors, but how I wish they had shared more detail about themselves, their relationships, their traditions, and those ideas and beliefs that motivated them. The recognition that estate planning can tell a person�s story, and leave it for future generations, is part of what drives the values-based estate planning movement.

48. Face-to-face Increase sensitivity to values of donors Not necessarily the standard questions Rather, wondering and probing General questions about values Specific questions about what they think about when donating to your charity Relating general values with your charity

49. Another use

50. In closing, Ethical wills create opportunity to talk about profound issues Allow you to look for linkages between donors� values and your charity�s values Planned giving can often provide a way to work out those values

51. Presentation on my website www.planned-giving.com