Charitable Giving: Plan While You Can

Written by Robin Elmerick, CICF Senior Director of Effective Philanthropy

Aging is inevitable, and the U.S. population is getting older. The share of Americans age 65 and older has grown substantially over the past two decades and is projected to reach roughly one in five by 2030. As families plan for wills, trusts, financial accounts, and health care wishes – charitable intentions deserve a place in those conversations too. 

No matter your age, it is worth considering your long-term charitable plans. Perhaps you want to continue supporting organizations you have given to for decades, help your family carry forward a cause, or leave resources available to address future community needs. 

Talking about those wishes now – and putting an appropriate structure around them – can reduce uncertainty later. 

Reduce gray areas if capacity changes 

Health circumstances can change over time, and family members may eventually take a greater role in helping manage financial affairs. When charitable intentions have not been clearly discussed or documented, even a long-standing pattern of giving can become difficult to interpret. 

Imagine a parent who has supported the same organization for 30 years and wants to make a significant gift to them later in life. Is it consistent with long-standing intentions? Do family members understand why the organization matters? Clear planning can make those questions much easier to answer. 

Provide context for the people you trust 

A documented charitable plan can help family members and advisors understand not only where you want charitable dollars to go, but why. That might include establishing additional fund types beyond your donor advised fund during your lifetime, documenting plans for a future fund, adding charitable provisions to your estate plan, or involving family members in giving while you can experience that philanthropy together. 

Leave room for change 

Planning ahead does not mean locking yourself into decisions forever. Interests evolve, organizations change, new needs emerge, and financial circumstances shift. The goal is clarity: create a foundation that you, your family, and your advisors can revisit and adjust as needed. 

Including children or grandchildren in charitable conversations can make this especially meaningful. Giving can become a way to share the experiences and values behind your generosity while also hearing what matters to the next generations. 

Plan early to avoid difficult situations 

Financial institutions and professional advisors may need to follow special procedures when questions arise about unusual transactions, diminished capacity, or possible financial exploitation. Safeguards are important, but it is far better to clarify your intentions before those issues emerge. 

At any stage of life, our team can help you think through questions such as: What do you want your giving to accomplish? Which organizations or causes matter most? How, if at all, would you like family members to be involved? Should your giving continue after your lifetime? How much flexibility should the plan have as circumstances change? 

The answers can help you and your legal, tax, and financial advisors determine how charitable giving fits into your broader plan. Planning ahead cannot eliminate every question the future may bring, but it can give the people you trust a much clearer roadmap for honoring the charitable intentions that matter to you.

About the Author

Robin Elmerick, senior director of effective philanthropy has been with CICF since 2019. A certified Impact Philanthropy Advisor, she works closely with fundholders across all entities of the CICF Collaborative to help them define their philanthropic strategies and maximize their impact. With a background in nonprofit leadership and consulting, she is passionate about bridging the needs of the community with the missions of nonprofits and the passions of our fundholders, aligning all three to create meaningful change in Central Indiana and beyond.