LEGACY | AUGUST 2023

Thompson & Associates Offers Legacy Giving Planning Services

Photo courtesy of Bill Gustoff, Thompson & Associates

Thompson & Associates’ innovative process will allow foundation staff, donor’s local professionals and Thompson experts to work collaboratively to enhance and strengthen the planned giving program for the foundation, while assisting our donors to make larger gifts than perhaps they may have dreamed possible. Together, we will be working on an effective, values-based, charitable planning process that couples our donors’ values with their financial needs and philanthropic goals.

Our Thompson Associate, Bill Gustoff, will dedicate one ½ day each month at the Foundation office for planning services for our supporters. Typically, the planning process takes four to five meetings with each donor and often encompasses four or more months to complete the process.

Thompson & Associates help donors clarify their values and articulate their objectives for transferring assets to their heirs and charities with a proprietary values questionnaire. The result is a personal Statement of Values and Objectives, written for each donor. They review the donor’s Net Worth Statement and use the Statement of Values and Objectives, Net Worth Statement, and current tax law to recommend a plan which will distribute their assets according to their values in the most efficient and effective ways.

Next, they deliver a comprehensive set of recommendations which includes the donor’s strategies, assets, and tools that will help them accomplish their personal, philanthropic, and financial goals. If the donor desires, we will meet with their professional advisers (attorney, accountant, life insurance agent, investment manager, etc.) to discuss the recommendations.

In meetings with the donor, they also provide education on the technical aspects of the estate plan and the reasons why they are recommending each aspect of the plan. They provide an additional set of recommendations for the donor’s attorney. They do not draft any documents, however their planning team provides unlimited technical assistance to the donor’s planning team, as needed.

At the foundation’s request, Thompson & Associates will also conduct seminars, informational luncheons, and educational sessions to targeted constituencies (volunteers, staff, donors, etc.) for the purpose of engaging participants in the charitable estate planning process.

Click here to view a 5-minute video outlining their process.

If you have any questions or would like to participate in the planning process with Thompson & Associates, please contact Laura Sullivan at laura@museumfoundation.org.