Transfer of Wealth: An Opportunity for Professional Advisors

 

Last year, La Crosse Area Community Foundation partnered with several Wisconsin community foundations and the University of Minnesota Extension Office’s Department of Community Development to analyze the transfer of wealth expected in La Crosse County over the coming decades.

Key findings for your clients:

• Current household net worth in La Crosse County is approximately $42.9 billion.
• About $1.4 billion is expected to transfer between generations over the next 10 years.
• If just 1% of that transfer is directed to philanthropy, it could generate an additional $14.4 million for local charitable organizations.
• At 5%, that impact grows to $71.8 million over the next decade.

As you help clients plan for the transfer of wealth, charitable giving can be an effective way to support the causes they care about while creating a lasting legacy. Endowed funds provide a permanent source of support for the community, allowing a family’s generosity to continue for generations.

When charitable giving becomes part of your clients’ wealth or estate planning, think of La Crosse Area Community Foundation as an extension of your advisory team. We’re here to help develop giving strategies that benefit your clients and our community.