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What are the best prospect research practices for trusts and estates?

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Prospect research is a vital process for non-profit organizations that want to identify and cultivate potential donors who have the capacity and inclination to support their mission. One of the most lucrative sources of funding for non-profits is trusts and estates, which are legal entities that hold and distribute assets according to the wishes of the grantor or the deceased. However, finding and reaching out to these prospects can be challenging, as they may not be publicly listed, easily accessible, or responsive to generic appeals. In this article, we will discuss some of the best practices for prospect research for trusts and estates, and how they can help you increase your fundraising success.

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1 Understand the types of trusts and estates

Trusts and estates are complex arrangements that vary depending on the legal, financial, and personal circumstances of the individuals involved. Non-profits may encounter different types of trusts and estates, such as revocable trusts, which can be modified or revoked by the grantor during their lifetime and are often used to avoid probate and reduce taxes. Irrevocable trusts, on the other hand, cannot be changed or terminated by the grantor once they are established and may be more promising prospects for non-profits due to their clear and lasting commitment to philanthropy. Testamentary trusts are created by a will and take effect after the death of the testator, but may be difficult to access for non-profits as they are subject to probate. Lastly, estate plans outline how a person's assets and affairs will be handled after their death and may include bequests or legacy gifts to non-profits.

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Armand Roldan

Entrepreneur | Multi-Family Office | Cofondateur PER Consulting | M?AT REALTY | myHike
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Il faut aussi faire attention au lieu de résidence. Selon les pays les critères changent. Et lorsque nous sommes exposés à différentes législations il faut bien se faire accompagner pour comprendre ou la succession va se dérouler civilement et ensuite fiscalement.

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2 Use multiple sources of information

To conduct effective prospect research for trusts and estates, you need to use multiple sources of information that can provide you with relevant and reliable data. Public records, such as court filings, property records, tax returns, obituaries, and news articles, can help you find out the names, addresses, assets, beneficiaries, and charitable activities of trusts and estates. However, they may not be comprehensive, accurate, or up-to-date and require a lot of time and effort to access and analyze. Private databases are online platforms that aggregate and organize information from various sources. They can help you find and verify the details, preferences, and connections of trusts and estates. But they may be costly, limited or restricted and require a subscription or membership to access and use. Personal contacts are people who have a direct or indirect relationship with trusts and estates. They can help you gain insight, referrals, and introductions to trusts and estates. However, they may be biased, reluctant or unavailable and require a lot of trust and rapport to engage and collaborate.

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Armand Roldan

Entrepreneur | Multi-Family Office | Cofondateur PER Consulting | M?AT REALTY | myHike
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Les cessions d'entreprise sont une bonne piste car forcément cela va impliquer du réemploi et une futur succession. Ce genre de renseignements doit être disponible par internet ou certaines chambres de commerce.

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3 Tailor your outreach strategy

If you want to increase your chances of getting a positive response from trusts and estates, you should tailor your outreach strategy to their characteristics, needs, and expectations. Segmenting your prospects into groups based on criteria such as type, size, location, interest, or stage of giving can help you prioritize and allocate resources. Researching your prospects by gathering and analyzing information about their history, mission, values, goals, guidelines, deadlines, and contact information can help you understand them better. Communicating your value by highlighting how your non-profit's mission, vision, impact, and activities match their philanthropic objectives can demonstrate your credibility and relevance. Building a long-term relationship with your prospects based on trust, respect, and appreciation can help you create rapport and loyalty.

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4 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Armand Roldan

Entrepreneur | Multi-Family Office | Cofondateur PER Consulting | M?AT REALTY | myHike
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Lorsque l'on aborde ces sujets il ne faut pas oublier le c?té émotionnel. Il n'est jamais simple d'appréhender un prospect mais sur la succession encore plus. Il faut être attentif aux véritables objectifs du prospect. Et respecter ses choix.

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What are the best prospect research practices for trusts and estates?

1

2

3

4

1 Understand the types of trusts and estates

2 Use multiple sources of information

3 Tailor your outreach strategy

4 Here’s what else to consider

Non-profit Program Development

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What are the best prospect research practices for trusts and estates?

1

2

3

4

1 Understand the types of trusts and estates

2 Use multiple sources of information

3 Tailor your outreach strategy

4 Here’s what else to consider

Non-profit Program Development

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