Planned giving has always been shaped by demographics. But over the next decade, the donor landscape is going to change more dramatically than it has in the last fifty years, and legacy programs will need to evolve with it.
Three forces are converging:
- Americans are living longer
- Wealth transfer is happening later
- Millennials and Gen X are entering their prime giving years
The result is a planned giving timeline that looks nothing like the historical model. The new landscape will fundamentally change how nonprofit teams approach building a prospect pipeline, engaging with prospects, and navigating donor intent.
Millennials and Gen X Are Redefining Donor Behavior
Multiple data sources show that younger generations are reshaping overall giving patterns, not just in volume, but in how and why they give.
For example:
- Millennials increased their charitable giving by nearly 40% between 2016 and 2022 – outpacing their older cohorts.[1]
- Research from the Indiana University Lilly Family School of Philanthropy shows that Gen Z and Millennial donors approach philanthropy differently, often more tech-savvy and issue-driven than prior generations.
- Data from the Generational Giving report indicates Millennials have surpassed Gen X in average giving per donor and are the only cohort that increased giving between 2016 and 2022.
This isn’t just about generational “trends.” It reflects a structural shift in millennial donor expectations:
- Values-aligned giving is becoming more important.
- Donors want transparency, clarity, and digital pathways to express intent.
- Legacy giving prospects expect experiences that feel straightforward and respectful.
Planning a legacy isn’t simply end-of-life housekeeping. For many younger donors, it’s a proactive act of stewardship – aligning their assets with their beliefs and intentionally shaping the future for their family and community.
The Largest Wealth Transfer in History Is Underway – But There’s a Catch
You’ve probably read the headlines, the U.S. is entering the largest generational wealth transfer ever, with estimates suggesting $84 trillion will transfer from older generations to heirs by 2045.[2]
But here’s the thing: much of that wealth is transferring later than many nonprofits assumed.
Life expectancy has increased by more than 30 years over the last century, and today, a growing number of Americans are living well into their 80s and 90s. Because we’re living longer, assets are often held until supporters’ inheritances (and major philanthropic bequests) aren’t moving in the same timeframes they once did.
This changes the foundational timeline underlying planned giving interactions for development professionals. Planned giving has become less of a “late-life transaction” and more of a strategic, integrated element of a holistic fundraising strategy.
More supporters are thinking about legacy giving earlier as a part of ongoing life planning. Longevity creates more opportunities for nonprofits to nurture interest over time, not just at the very end of a supporter’s life.
That shift gives nonprofits a chance to catch intent while there is still time to build relationships and deepen engagement. But it also means programs need to be ready for conversations that happen over the course of years, if not decades.
Delayed Wealth Transfer Isn’t Delayed Interest
There’s a misconception that because the major wealth transfer (from one generation to the next) is happening later, planned giving commitments are also delayed.
And yet, supporters often think about legacy well before financial transitions occur. They raise their hands, they express intent, they look for details on nonprofit websites, they explore options – even if the actual transfer of assets happens years later.
What this means:
- The pipeline of intent is real and active well before wealth changes hands.
- When you capture that intent matters as much as whether you capture it.
- Programs that are ready to meet supporters where they are – with clarity, simple tools, and a low-pressure experience – will inevitably bring in more legacy gifts.
The Follow-Through Gap Is Now More Costly Than Ever
Here’s the pattern most planned giving leaders already recognize:
- Supporters express interest
- Intent rises
- Momentum stalls
- The opportunity fizzles
The journey above tells us this is not because supporters don’t care, it’s because interest shows up earlier and more often than the majority of existing planned giving programs are designed to capture.
By way of example, as of 2023, only about 5–6% of Americans have named a charity in their will, yet roughly one in three say they would consider leaving a charitable gift if asked, despite the enormous projected wealth transfer.
That gap between intention and documented legacy means:
- Your program may be losing potential planned gifts
- Donor signals (even strong ones) can fall through the cracks
- Momentum loss is one of the biggest strategic risks facing planned giving teams today
The Way the Industry Captures Intent Has to Evolve
With these demographic trends in motion, the old model of relying on time-intensive outreach or sporadic campaigns simply doesn’t scale.
Today’s donors, especially younger ones, aren’t waiting for planned giving messaging to arrive at the right moment. They’re exploring questions in real time and seeking answers online on their own terms.
Tools and systems that make it easy for supporters to explore options at their own pace, have their questions answered before they realize they have them, and provide opportunities to express intent have thus become essential.
The organizations that embrace that shift will build larger legacy giving pipelines, steward supporters more consistently, and thus be able to create deeper, more meaningful relationships.
So What Should Planned Giving Teams Do Next?
All of this data points to a simple truth: the next era of planned giving will be defined by organizations that meet supporters at the moment of intent versus merely at the moment of transfer.
In practice, that looks like:
- Meeting supporters where they are: Not waiting until a mailed brochure or a single annual messaging push. Intent happens more frequently online, in little moments strung together over time.
- Building systems that hold on to donor intent: Instead of sorting through loose notes or letting it linger, make an actionable plan. Clearly define operational ownership and create structure to capitalize on donor intent strategically and quickly.
- Embracing younger donors’ values and expectations: Technology preferences, values-driven giving, and early planning are not generational quirks – they’re structural trends. Research shows that Millennials and Gen Z donors increasingly seek transparent, impact-focused giving experiences and prefer to support causes that align with their personal values, often relying on digital tools to inform their choices.[3]
What This Means for Your Planned Giving Program
The next decade of planned giving won’t look like the last one.
So what does this tell us? We’re entering a period where younger supporters are thinking about legacy earlier. Longer lifespans are stretching giving decisions over more years, and donor expectations around ease, clarity, and mission alignment continue to rise.
This creates an enormous opportunity, if nonprofits build strategies and systems that reflect these realities with:
- Extended timelines for donor journeys
- Capacity to harness philanthropic signals from younger legacy prospects
- Digital-first engagement
- Systems that hold intent over time
Because planned giving is no longer just about bequests. It’s about building continuity – across generations, across decades, and across the tiny moments when supporters are ready to act.
Shifting demographics demand that we take a hard look at whether today’s legacy programs are designed for tomorrow’s supporters. Organizations that adapt now are positioned to make the next decade the most transformative era in their giving history.
[1] Giving USA Foundation, Giving by Generation: Examining the Shifts in Giving Among Donor Generations (Chicago: Giving USA Foundation, 2023), p.7, https://www.theromegroup.com/wp-content/uploads/2023/04/GUSA_Special_Report_Digital-Giving-by-Generation.pdf
[2] Cerulli Associates, U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2021: Evolving Wealth Demographics (Boston: Cerulli Associates, 2022), estimate that approximately $84.4 trillion will transfer to heirs and charities by 2045.
[3]Indiana University Lilly Family School of Philanthropy, The Next Generation of Philanthropy (Indianapolis: Indiana University Lilly Family School of Philanthropy, January 29, 2025), https://scholarworks.indianapolis.iu.edu/server/api/core/bitstreams/09c0b75d-2473-4a47-b4b9-8795cf455290/content.