Economists have often spoken of a “Great Wealth Transfer” that will see the younger generations inherit at least $72 trillion in assets over the next 20 years. This trend is set to have a monumental impact on the economy and lifestyles of Gen X and Millennials, who are set to inherit the lion’s share of the wealth. Both businesses and nonprofit organizations may be wondering how to best capitalize on this transfer of wealth. For PlannedGiving.Com, teaching nonprofits the importance of legacy gifts is a fundamental necessity in light of this soon-to-be historic change in wealth.

PlannedGiving.Com’s Founder and CEO Viken Mikaelian created the platform after recognizing the need for an effective marketing platform for nonprofits and charities. While working at the University of Pennsylvania Office of Development in 1992, he realized that something was wrong at the highest levels of nonprofit fundraising. To his surprise, the vast majority of nonprofit organizations were doing nothing to market their planned giving and legacy giving programs. This was an unfortunate truth because of the size of donations that usually come from planned giving.

“When we entered this business over 20 years ago, several in the fundraising community objected, saying that we could never ‘bring planned giving online,’” Mikaelian commented. “Currently, we have served over 5,000 nonprofits by establishing their planned giving programs online. We’ve done this through a measured, strategic approach that combines educating fundraisers and their donors about the importance of planned giving, along with the marketing of our own services.”

Despite the projected amount of inherited money over the next two decades, around 68% of all Americans have not written a will. PlannedGiving.com has made an effort to promote estate planning and educate people about its importance. By promoting estate planning, the company hopes to lay a foundation that will help nonprofits that want to be part of their donors’ will during the estate planning process.

To many nonprofits, the prospect of asking for legacy gifts can seem like a difficult prospect. However, PlannedGiving.com has always promoted the idea that marketing planned giving does not have to be complicated to be effective. The platform allows nonprofits to start small by asking for bequest gifts, which are a form of legacy giving that is simple and easy to give. This straightforward form of planned giving simply designates property or finances to be given to a nonprofit organization upon the donor’s passing.

Furthermore, PlannedGiving.com recognizes the increasingly interconnected nature of marketing by helping nonprofits set up planned giving websites so relevant parties can easily find them and make donations. Planned giving websites are becoming increasingly important now that more and more seniors are regularly using the Internet and many are becoming well-versed in using technology.

PlannedGiving.com has brought this approach to both medium and national nonprofit organizations, from local zoos and YMCA chapters to state schools and large healthcare networks. As more nonprofits realize the importance of planned giving, the Great Wealth Transfer will likely prove crucial to the marketing plans of small and large nonprofits alike.