Leveraging charitable giving in your estate plan

Through 2045, $30 to $68 trillion in wealth is expected to be transferred in the United States, with an estimated $11.9 trillion projected to be donated to charities¹. Individuals face a unique chance to explore how they might create a meaningful legacy. By incorporating philanthropy into your estate plan, you can support causes that matter to you or create ways for your family to support causes they care about, ensuring your wealth is used for good.

In 2024, Fidelity Charitable^® conducted a survey to explore how donors ages 50-80 plan charitable giving and end-of-life arrangements to ensure their legacy. This study found that nearly 4 in 10 (38%) of high-net-worth donors with $1 million or more in assets said they plan to donate money to charities after they die, with an average bequest of $161,000².    

In this guide, you will find best practices, recent research on estate planning, and common planning strategies and vehicles, including:

• Bequests: Designate a specific dollar amount, a percentage of your estate, or particular assets to charities in your will or trust
• Beneficiary designations: Name specific recipients for assets, bypassing probate
• Donor-advised funds (DAFs): Make an irrevocable charitable gift to a sponsoring charity during your lifetime or through your estate via a bequest or beneficiary designation
• Charitable trusts: Balance income needs and philanthropic goals
• Endowments and endowed DAFs: Ensure sustainable long-term support through annual distributions to support charities

1 Giving USA 2024 report

2 “Charitable living and the new retirement”, Fidelity Charitable, 2024.