by Deb Dubin, Chief Philanthropy Officer
I am a Massachusetts native, and my accent comes out in full force when I return to New England. One of my pet peeves is when fellow drivers don’t indicate their intentions by using their turn signals (referred to as “blinkahs” in Massachusetts-speak). This is such a recurring issue that there is even a bumper sticker in classic Dunkin Donuts-font that reminds people to “Use Yah Blinkah.”*
What does a blinkah have to do with philanthropic strategies? It speaks to the concept of planning ahead and signaling your plans to others. Many clients are well-equipped to be generous, yet they have not taken the time to compose their thoughts around their charitable aspirations, which can leave succeeding generations guessing at the best ways to honor their legacy.
For many clients, drafting a Legacy Letter in their own words is a highly meaningful exercise that allows them to share their thoughts with succeeding generations. Authors may reflect on their family history and life experiences, share values and beliefs, and offer a vision for the future. An additional purpose can be to clarify philanthropic aspirations in what is sometimes referred to as an “Expression of Donor Intent.”
Sharing this type of knowledge provides heirs (and in some cases trustees) with uniquely personal guidance that could otherwise be lost over time.
A Legacy Letter may include:
- Stories that shed light on the family’s origins and historical milestones
- Insights into the family’s motivations
- Charitable giving preferences
- Specific institutions and organizations may evolve (and in some cases cease to operate) over time, so sharing broad themes is often helpful. This leaves room for heirs to shape the family’s giving as time passes.
- Mission statements that help to articulate the family’s “WHY”
- “Our family philanthropy supports organizations that address… ”
- “We are guided in this work by our beliefs and our shared values, including …”
The format of the letter can vary, and it can be written or videotaped – whatever is most comfortable for the client. It should be filed with other important documents and distributed to estate executors, fiduciaries, and/or heirs.
A Legacy Letter can be an effective way to communicate a client’s vision. While the statement is not binding, it can be an influential resource with respect to purpose and priorities.
“Use Yah Blinkah” to signal your intentions. Your Moneta advisor and our Chief Philanthropy Officer can help you navigate the journey.
*Unknown if the bumper sticker in the recognizable Dunkin Donuts text styling was created with or without permission from Dunkin’ Brands, Inc. and its affiliates.
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