b'What is estate planning? RESEARCH Many people have an estate. Anything you own is partFINDINGSof your estate, such as your bank account, retirement fund, home, car, and personal possessions. When people make formal plans for what should happen with their estate when they die, this is called estate planning. Estate planning can involve any number of tools and financial vehicles that aim to minimize theOur study finds that 56% of affluent U.S. adults say they will taxes levied against assets when they pass to inheritors.leave part of their estate to charity. However, only some of those who want to give have taken the necessary steps to ensure that happens: a quarter of affluent Americans want to leave part of their estate to charity, but have yet to document theirWhat is legacy giving? plans formally.When people leave part of their estate to charity, this is called legacy giving. It can take on various forms, such% of affluent adults who.as leaving money or assets to a charitable cause in a will, listing a charity as the beneficiary of a life insurance policy or financial account (e.g., an IRA), or creating a charitable trust. Have legacy giving in their 33 current estate plans44 Want to have legacy giving in future estate plansDo not plan to engage in 25 legacy givingAmong anticipated legacy donors:74% WAYS OF GIVINGMonetary gifts (74%) are the most common form of anticipated legacy giving, with the majority of donors planning to use this giving vehicle. About four in ten (37%) anticipated legacy donors say they plan to use a charitable trust, and 34% say they want to gift assets. plan to gift moneyVALUE OF PLANNED GIFTSOn average, anticipated legacy donors report 30% of their 37% estate will go to charity (median: 20%). Those with formal plans anticipate giving a larger share of their estate to charitable causes than those who have yet to document their giving plans (37% vs. 19%). The size of these intended but undocumented legacy gifts may plan to gift via a charitable trust be smaller, but they still represent a substantial amount of money that could go to charitable causes. Conservative estimates suggest that there are more than $484.1 billion in funds affluent 34% adults want to give to charitable causes after they die but have yet to document properly in an estate plan. Making a plan to structure these generous intentions allows more of these funds to reach charities and the people they serve. The majority of current philanthropists intend to continue giving after their deaths. More generosity in life is strongly plan to gift assets correlated with more generosity in death for both the percentage of their estate given and the total estimated value of their gift.1 This report is based on anticipated legacy giving. Actual shares of affluent adults who give and the amounts given may differ, as people can change their estate plans up until their death.2 Calculated by underestimating assets and defaulting to minimum possible giving based on self-reported share of estate going to charity.4 CHARITIES AID FOUNDATION AMERICA | LEGACY GIVING REPORT 2024'