No kids? Three calls-to-action for charitable planning
Written by Robin Elmerick, Senior Director of Effective Philanthropy
We all contemplate our legacy and what we’ll leave behind, in our values and our lifetime impact, as well as our assets and the impact we’ll make beyond our lifetimes. Those without children may tend to wonder how their legacy will take shape. Rather than focusing on biological heirs, they often find more freedom to channel their resources, time, and values toward the broader community and giving back. Indeed, Americans over age 50 without children are more than four times as likely as parents to have a charitable estate plan. If you fall into this group—or advise family members who do—take a moment to consider adopting an intentional philanthropic strategy.
CICF Collaborative (which includes Central Indiana Community Foundation, Hamilton County Community Foundation, IMPACT Central Indiana, the Indianapolis Foundation, and Women’s Fund of Central Indiana) is happy to help. Reach out anytime for a conversation! Here are three themes we’ll consider as we begin our dialogue:
- Treat charitable giving as an expression of identity. The causes you champion often become extensions of your values and impact. A fund at an entity within CICF Collaborative can bear the name of its donors or something else entirely to represent the priorities of its founders.
- Integrate charitable planning into estate planning. People who do not have children often have greater flexibility in determining how their wealth will create lasting meaning and impact beyond their lifetimes. By integrating charitable planning into your estate and financial strategies, you can direct resources toward causes that reflect your values and ensure your legacy benefits your chosen and the impact areas you care about most. Without the need to provide for heirs, charitable planning offers a thoughtful way to give purpose to accumulated assets and make a difference for future generations. We will discuss ways to involve your estate planning advisors in structuring charitable plans.
- Branch out to extended family. Without the generational handoff of children, people without children might have flexibility other donors do not. This can mean involving nieces, nephews, other younger relatives, or community members in the philanthropic journey, building a multi-year giving plan, or shifting giving based on changing community needs. Remember, when you establish a donor-advised fund at an entity within CICF Collaborative, you can name successor advisors to take your place in recommending charities to receive distributions.
Whether or not you have children, we can be a sounding board and resource every step of the way. Please reach out to learn more about how we can help you and your family build a charitable plan that is tailored to both your personal and family goals, as well as your goals for making a difference in the causes you care about.
About the CICF Collaborative
CICF Collaborative is a partnership of philanthropic organizations working together to strengthen communities across the region. Each entity within the CICF Collaborative (including the cornerstone entities, Central Indiana Community Foundation, Hamilton County Community Foundation, IMPACT Central Indiana, the Indianapolis Foundation, and Women’s Fund of Central Indiana) brings deep knowledge, strong relationships, and its own individual, focused mission. The CICF Collaborative unites the entities by providing shared services, allowing the entities to operate more efficiently and effectively. By leveraging what we each do best, we’re able to better serve our communities and create more lasting impact, together. Learn more »
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.