Challenges, Issues, Comparisons
One of the cleverest recent developments in planned giving are online solutions allowing donors to create their own will, at little cost and with no legal intervention. Is this a good idea? What are the advantages (or disadvantages) for nonprofits and development pros?
Oops, We Forgot Attorneys
OK, I admit it. I didn’t think about how attorneys might react to this development. It’s an end-run, almost an affront, to their services. So, let’s face it—attorneys have much more expertise in legal matters than do you or me. What are some situations where you need an estate planning attorney?
- Your estate plan is complicated. If you have warring family members, you might want to consult an attorney to iron-clad your will.
- If you want to make a gift and yet receive lifetime income from its proceeds, you definitely need an attorney—and probably a financial advisor, too.
- If you have any reason to believe your will would be contested, seek an attorney’s advice.
Online Will Makers for Nonprofits
There are several will-making services allowing users to make simple wills, advanced healthcare directives, and more. They go beyond services like Legal Zoom and actually integrate their software into your nonprofit’s website for donors to use.
While some may be free or low-cost for individuals, if you join one of these services as a non-profit partner, you will need to pay an annual fee, ranging from a few thousand bucks to much more.
What You Get for Your Money
- A standard will-planning platform.
- Most offer free customer support which can be technical in nature or include some input in terms of web copy.
- Most offer reporting and analytics, allowing you to calculate your return on investment (ROI).
All of them include some nice reviews on their websites (but they wouldn’t post any negative ones, would they?)
Here’s a collection of online will planners and their ratings according to ONLINE WILLMAKERS.
OK, these services offer some useful solutions for both nonprofits and their donors, but … but let me hear a drumroll and a fanfare of trumpets as I introduce…
LegacyPlanner™ & LegacyOrganizer™
Our LegacyPlanner™ and LegacyOrganizer™ are a robust suite of products we’ve designed specifically to help your nonprofit grow its planned giving program — and revenues. We include the following:
- Our own will planning platform for donors
- A branded analytics dashboard
- An online branded advisor guide
- A brochure version of the advisor guide in PDF
- An online guide titled “You Need an Estate Plan” (read what happens when you die without a will)
- Templates for a Bequest Brochure and a Trusts 101 brochure
- Free access to the DAF Direct widget, allowing donors to make a gift directly from their own donor-advised fund
But that’s not all. We don’t leave you high and dry. Instead, we offer you ongoing support and educational opportunities. Such as:
- Templates for estate planning brochures
- Filler articles for your publications about wills, trusts, & estates delivered to you in Microsoft Word
- Giving Tomorrow magazine
- Planned Giving micro-lessons
- A dedicated bequest specialist assigned to your Account
Since up to 68 percent of the American public doesn’t have a will (more surprising stats here), your organization will see a surge of interest and undoubtedly realize more planned gifts than you can imagine.
Couple this tool with some of our other products, like Planned Giving in a Box®, and your legacy gifts program will be turbocharged.
Intrigued? Contact us today.
