Planning for Wealth Transfer, Part 1

4. Establish volunteer leadership. Will there be a planned-giving committee of the board, and what will its role be? Will it simply provide oversight? Should members have made planned-giving commitment themselves? Should they be responsible for suggesting other planned-giving prospects? Matthews also added that some organizations establish an advisors committee made up of professional accountants, financial planners and lawyers. If you choose to establish this type of committee, be sure to clearly define its role.

5. Determine how you'll handle financial accounts and investment policies. Come up with endowment fund investment policies and a spending plan. Will trust/annuity accounts be self-managed, or will you outsource their management?

6. Discuss what staffing and systems you'll need. What software will you need? How will planned giving be staffed? Do you need to hire a planned-giving specialist? What level of training will need to be provided to staff? Matthews said two good planned-giving software tools are Crescendo Interactive and PG Calc. Crescendo, he said, is geared more toward serving the donor, while PG Calc is designed more for the gift planner.

7. Establish how you'll market the program. Will you market it to everyone or segment out a group from your list — everyone over the age of 65, for example? How will the prospect list be built and, of paramount concern, who will follow-up on leads? Will you use the Internet to publicize the program? Matthews also suggested considering holding special seminars or workshops on the program for your constituents.

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