Over the past few years now, much has been said about the gradual but clearly discernable shift, both in wealth and mindset, from the Baby Boomers (1946-1964) to those who will succeed them, the Millennials (1981-1996).

Baby Boomers are those that arose from the post-World War II era – an unprecedented time of growth and expansion, in both the economy and national optimism. Boomers were raised with a different perspective, as many of them had depression era parents, who taught the hard and often difficult life lessons they learned to their children. Whether it was “caught or taught”, the fact is many of these Boomers “got it”, because the result of this population and prosperity boom is an equally unprecedented amount of accumulated wealth—as much as $70 trillion by recent estimates. Many Boomers have benefitted from the succession of a family business, which only adds further complexity (and generational differences regarding mindset) to this transfer of wealth. The importance of passing on “wisdom before wealth” and assuring minimal erosion of these dollars from unnecessary taxation and an overall lack of discipline on the part of those who receive it, has never been higher!

For those of us who are among the Baby Boomers, it is essential that we do diligence with our estate (and if we’re believers, what would also constitute our “legacy” plans), including the charitable giving we might feel led to accomplish in and through those plans. Advisers, who are proficient and knowledgeable in these areas, are essential to the success of such an effort. A seasoned, savvy, financial and planned giving professional can help you navigate the complexity of the tax code, for the hidden benefits that may well reside there, in your unique situation (in the words of one: granting the ministries you cherish an opportunity to "compete for the IRS's share of your estate"). 

Further, specialized Trusts, such as Charitable Remainder Unitrusts, can serve multiple aims – including the achievement of, in fact, tax favored income during retirement or a period of key income need, while at the same time locking in an end gift to cherished ministries, beginning with, for many of you, LeTourneau University!  Such strategic “two-way interest” plan designs efficiently create a true ‘win-win’ scenario for both you and the ministries you want to see perpetuated.   

For all this described, the LeTourneau University Foundation was separately formed. Now operating in an even greater level of autonomy and strategic self-support, while still residing alongside LeTourneau University, we can be of service to you in these all-important areas of consideration.   

If you are a Boomer, and a believer in Christ (and to our reader, maybe a LETU alum), we encourage you to consider telling your story, to the end it might become an inspiration to those who will follow in your footsteps. An accompanying strategic giving strategy can then help you not just express your story but empower it—by the way in which your giving helps pave the way for those who would follow you.