Feb. 22 | Estate Planning & Charitable Giving
Making a Plan: The Intersection Between Charitable Giving and Estate Planning
Educational Events for Philanthropy & Community Giving
The Missoula Community Foundation will host Making a Plan: The Intersection Between Charitable Giving and Estate Planning, an evening of learning together with Estate Planning Attorney Martha Goodloe, from 5:30 to 7:00 PM on February 22nd at The Confluence Center.
Participants will learn the benefits and process of incorporating charitable giving into their estate – and will come away with an easy step-by-step plan to do so. Martha Goodloe has been helping Missoulians build impactful estate plans for the past decade and is especially skilled in helping her clients balance family and community interests.
This is the first of the Missoula Community Foundation’s Be the Change Educational Series. This series includes presentations, workshops and panel discussions that support and encourage philanthropy in Missoula and beyond. This series is free and open to the public.
Presented by Martha Goodloe.
Transfer of Wealth
The Greatest Transfer of Wealth
What does this mean for Missoula?
What Impacts Will the Greatest Wealth Transfer Have on Missoula?
You may have heard that the largest wealth transfer in history is currently underway. This monumental shift involves the transfer of wealth from the Baby Boomer and Silent Generation to younger generations.
The term ‘Baby Boomer’ originated during a period of robust postwar economic growth, as Americans’ confidence led to larger families, resulting in a population and economic boom. This economic prosperity translated into substantial wealth accumulation for the Baby Boomer generation.
As the Baby Boomers retire, require long-term care, and eventually pass away, their amassed wealth, estimated at around $30 trillion to $68 trillion, will be passed down to their children, grandchildren, and other beneficiaries. This significant wealth transfer is expected to have broad implications for the entire U.S. economy, and it is already underway in Missoula. Projections indicate that by 2030, approximately $3.6 billion will be transferred from one generation to the next in Missoula County.*
Missoula was built by Missoulians, and together we can ensure that it thrives and retains it’s unique character for the next generation. If we capture just 5% of this wealth transfer for Missoula, we can generate $8.1 million to support this special place. At the Missoula Community Foundation, our role is to make it easy to harness this 5% for Missoula, by providing the resources, expertise and outreach needed to make it happen.
*This study was commissioned by The Montana Community Foundation (MCF)