Middle Class Philanthropy: How anyone can leave a legacy

Middle Class Philanthropy: How anyone can leave a legacy

By Melinda Gustafson Gervasi

November 8, 2024 

"Predating democracy, capitalism, organized religion, and as old as humanity itself, philanthropy exists because things often go wrong, and things can always be better". I wrote these words back in 2013 in a small book titled Middle Class Philanthropist: How anyone can leave a legacy.  Eleven years later I find myself pulled back to those sentences.  When life takes a wrong turn, we can lean into our own power and push to improve our world.  

Image by M. Gustafson Gervasi, 2024

At dinner this week my 16 year old son suggested our family add more charity runs to our family calendar.  “Mom, you know that run we are doing in March (2025) to support local refugees ... .are there more like that that we can do?”  My son knows that he can pour his cross country running ability and energy into a local organization to fuel a cause that he views as vitally important.  And so can you.

We are not all runners. We are not all wealthy.  Yet we can all be philanthropists. One chapter of my book opened with the following quote by Douglas M. Lawson, “Philanthropy flows from a loving heart, not an overstuffed pocketbook”.  After nearly 20 years as an estate planning and probate attorney I have worked with countless philanthropists; none of whom have a seven figure net worth.  All of them made a difference in the world they left behind.

November is a month with numerous Philanthropy Day events.  They almost exclusively focus on the common view of philanthropy; the top 2% giving to nonprofits they deem worthy.  Yet that does not have to be the only approach.  No matter the size of your gift, when done strategically, it can have a lasting impact on something you value and hold dear. Read more about every day people who made end of life gifts with a lasting impact in my book.  Simple approaches include naming a nonprofit as a primary or contingent beneficiary as a recipient of a small portion of:

• Retirement Accounts 
• Life Insurance 
• POD (pay on death) form for savings accounts 
• TOD (transfer on death) form for brokerage accounts 
• The residue of your will

Throughout November my blog posts will focus on philanthropy by Middle Class Americans.  Be the change you want to see in the world.

Thank you for reading.  Remember that a blog post is not legal advice; it is meant to spark thought and reflection.  Seek legal counsel from an attorney in your home state for advice specific to your situation.  Be well.