Massive Wealth Transfer Could Be a Windfall for Charities

Kelley Holland reports on the $59 trillion wealth transfer to be passed down to heirs, charities, taxes and estate closing costs, according to a study by researchers at Boston College’s Center on Wealth and Philanthropy. This is $7 trillion higher, in 2007 dollars, than a 1999 study by the center. According to Alan Cantor, a nonprofit consultant, those who are inheriting, “may have a different mindset about charitable giving than their parents’ generation.” He “see[s] them doing a few things: looking more into mission investing and impact investing, trying to invest their money in more creative, progressive ways, so it’s not all sitting in their parents’ traditional corporate securities.”

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