Iowa's Transfer of Wealth

Iowa's Transfer of Wealth Study

 

In 50 years, $531 billion is expected to pass through probate estates from one generation to the next in Iowa. In just 10 years, $74.4 billion will have transferred.

 

 

National research projects a $41 trillion transfer of wealth across the United States. But while the average transfer nationwide will peak after 50 years, wealth transfer in many Iowa counties is projected crest much sooner.  Much of this wealth is currently invested in family homes and farms, retirement accounts and other appreciated assets-some of which may be heavily taxed if given to heirs.

A one-time opportunity to create permanent benefits for Iowa

 

If only 5% of this wealth was earmarked for charitable endowment, the resulting funds would generate hundreds of millions of dollars every year for local community projects and priorities across the state-forever.  Iowa community foundations have established endowments focused on improving quality of life in each community, including the one you call home.

Ways to give

 

If you are retired, a planned gift from your estate may be more attractive to you and your family than a large gift today. You can leave a permanent legacy of giving, be a source of pride to your family and join others like you to build a stronger community.

 

Three easy ways to make a planned gift to your Community Legacy Fund include:

 

  1. Designate your local community foundation as the beneficiary of your IRA, 401(k) or other retirement account.  These assets can lose up to 70% of their value when passed to heirs; changing the benficiary designation does not involve madifying your estate plan.
  2. Designate your local community foundation as the beneficiary of a life insurance policy.  There is no need to modify your estate plan.
  3. Ask your attorney to add the community foundation to your estate plan.

 

Talk to your professional advisor and your local community foundation to learn about all of your giving options and choose the one that's right for you and your community.

Learn more now!

  • Download statewide research report compiled by the Community Vitality Center.
  • Find your community foundation to learn about options for turning a portion of your wealth into a permanent legacy to your community.
  • (Local community foundation representatives haev access via the knowledge center to a toolkit created specifically for sharing Transfer of Wealth data throughout their communities.  Log on to the Knowledge Center to access this information.)