Bequests Jumped Nearly 20%: Parishes Must Act on Wealth Transfer

For years, experts have talked about how a massive generational wealth transfer was coming. Today, that is no longer theoretical. We know it is already underway. And the Church cannot afford to ignore it.

What You'll Find in this Article:

• Bequests surged 19.7% year over year, the largest increase in all of philanthropy, signaling that the long‑predicted $124 trillion wealth transfer is already underway.

• Most parishes are unprepared for planned giving, often lacking training, messaging, and follow‑up; leaving significant charitable potential untapped.

• Planned giving is simple and accessible for everyday Catholics through bequests, beneficiary designations, and basic estate tools.

• The Catholic Foundation of Southern Minnesota provides education, tools, and one‑on‑one support to help every parish, cemetery, and school build an endowment and planned giving strategy.

Bequests Saw the Largest Increase in All of Philanthropy

I recently attended a MN Association of Fundraising Professionals' seminar on Giving USA’s 2026 charitable giving report. The event was well attended by nonprofits across sectors. The one finding surprised nearly everyone in the room: bequests saw the single largest increase in all of philanthropy. A percentage point or two change in any given area of charitable giving is normal year over year. But we discussed the striking change in 2025: Bequests, or gifts distributed from a deceased person's will, surged up 19.7% year over year. 

Nearly 20% growth in one year is not a blip. I expect it is the beginning of a long‑predicted shift in charitable giving.

The $124 Trillion Wealth Transfer Has Begun

Fundraisers have talked for years about the “great wealth transfer.” And we were lucky enough to hear from non-profit leaders like Theresa Gienapp, lifetime non-profit leader with more than a decade of gift planning leadership to her role as Director of Planned Giving at Macalester College. She expanded, "We've talked about the generational wealth transfer… $124 trillion. If you haven’t heard that number, that’s insane. And so from that, what are you doing now to capture the opportunity? Where do you see most organizations leaving money on the table?" At Macalester, they did a study on who would be the best suited to nurture for these kinds of giving opportunities and they created two new roles focused on what they called principal giving (also known as major or large donor giving) to help secure gifts from people looking to pass on their wealth while they're living. And a second role specifically for planned, also known as, estate giving. 

Now most parishes can't afford a full-time development professional and certainly not two. But that doesn't mean there aren't 'scrappy' ways we can work to secure planned giving.

The questions I pose are simple: Will our parishes be part of this conversation? Or will this opportunity to secure the future of the Church pass by us?

Planned Giving Is Often the Most Neglected Strategy

Theresa continued plainly: “Planned giving tends to be the least funded program within the charitable nonprofit space.”

Does that sound familiar to you? From what I hear, most parishes:

• Don’t talk about bequests

• Don’t educate parishioners

• Don’t train staff or volunteers

• Don’t include planned giving in stewardship messaging

• Don’t consistently follow up with donors who express interest

And as Teresa emphasized: “People leave money on the table by not talking about it… every frontline fundraiser should bring it up at every visit.”

If parishes aren’t talking about planned giving, they are missing the largest philanthropic opportunity of the next 20 years.

Planned Giving Doesn’t Have to Be Complicated

The great news here is that planned giving doesn't have to be complicated. Many parish leaders assume planned giving requires complex legal language or gift instruments. That can be so if a donor chooses, but more often, as Teresa reminded us: “It doesn’t have to be complicated — [giving can be done through] beneficiary designations, a bequest… just getting the word out there.” 

Most planned gifts are simple:

• A bequest in a will (see the two sentence legal language needed here)

• A beneficiary designation on a retirement account or life insurance policy

• A charitable remainder gift

These are accessible to everyday Catholics, not just wealthy families.

Why This Matters for Parishes Right Now

This matters today because:

• Older Catholics remain the most generous demographic in the Church

• Many have deep ties to their parish

• They want to leave a legacy

• They simply need to be asked

And because: If parishes do not engage now, those gifts will go elsewhere. The average person leaves 14% of their estate to charity. 

How CFSM Can Help Parishes Capture This Moment

The Catholic Foundation provides:

• Planned giving seminars for parishioners, including simple estate planning tools

• Catholic‑aligned investment management for donors who wish to give today, such as through a donor advised fund.

• Endowment creation and support

• Guidance on how to talk about legacy giving

• One‑on‑one support for parish leaders

Our goal is simple: Every parish, cemetery, and school in our diocese should have an endowment and a planned giving strategy.

The wealth transfer is here. We are ready to help you receive it.

To begin building your parish’s planned giving program, contact us at info@catholicfsmn.org or give me a call at 507-218-4098.

 

Frequently Asked Questions

What is a bequest?

A bequest is a gift left in a person’s will or estate plan. It can be a specific dollar amount, a percentage of an estate, or a particular asset. Bequests are one of the simplest and most common ways Catholics choose to leave a legacy.

Why did bequests increase so much this year?

Giving USA’s 2026 report showed a 19.7% year‑over‑year increase in bequests — the largest jump in all of philanthropy. This reflects the beginning of the long‑predicted generational wealth transfer, as older adults pass assets to heirs and charitable organizations.

What is the “great wealth transfer”?

The great wealth transfer refers to an estimated $124 trillion moving from older generations to younger ones over the next several decades. A portion of this wealth will be given to charities, including parishes, schools, and ministries — but only if organizations are prepared to receive it.

Do planned gifts require complicated legal tools?

No. Most planned gifts are simple and accessible. Common examples include:

• A bequest in a will

• Naming a parish as a beneficiary of a retirement account or life insurance policy

• A charitable remainder gift

Many Catholics can make these gifts without complex legal arrangements.

Why should parishes talk about planned giving?

Older Catholics remain the most generous demographic in the Church. Many want to leave a legacy but simply haven’t been asked. If parishes do not talk about planned giving, those gifts often go elsewhere — even though parishioners may have wanted to support their parish.

How can planned giving strengthen my parish?

Planned gifts help parishes:

• Build long‑term financial stability

• Fund ministries, maintenance, and future needs

• Create or grow endowments

• Support the parish for generations

Even one planned gift can make a meaningful difference.

How can the Catholic Foundation help?

The Catholic Foundation of Southern Minnesota offers:

• Planned giving seminars and simple estate‑planning tools

• Guidance for pastors and finance councils

• Catholic‑aligned investment management

• Endowment creation and support (download the full toolkit here)

• One‑on‑one assistance for parish leaders

Our goal is for every parish, cemetery, and school in our diocese to have an endowment and a planned giving strategy.

How do I get started?

You can begin by contacting the Catholic Foundation at info@catholicfsmn.org or calling 507‑218‑4098. We’re here to help you explore options that align with your values and support the future of your parish.

 

Why this topic? The long-term financial stability of our Catholic organizations was surfaced by interviewees in our 2025 diocesan listening exercise across Southern Minnesota. The Catholic Foundation Board has selected this our top strategic priority through 2030. Visit our FY27-FY30 strategic plan page to learn more.