case Study
A Family Seeking Expert Solutions for Urgent Charitable Estate Planning
A Family Seeking Expert Solutions for Urgent Charitable Estate Planning
In October 2021, we received an urgent call from Anna and Martin Maring*, who were on the brink of selling a significant asset. The impending sale threatened to substantially impact their upcoming tax bill, so swift action was needed to navigate the situation. After an initial discussion, it became clear that resolving the issue would require the expertise of a trust and estate attorney. However, before finalizing the estate plan, the Marings needed to decide on their charitable distributions. With a pressing deadline of December 31st and the attorney’s limited bandwidth for charitable guidance, Phīla stepped in to streamline the process.
*names and distinguishing characteristics have been changed
This is where Phīla came in.
What We Did
The Marings had an $80 million estate with no direct heirs. Their financial landscape was intricate, featuring separate estates, complex assets, and a tight timeline. Over two intense months, we collaborated closely with the couple and their attorney to develop a comprehensive charitable estate plan. Our efforts saved the attorney countless hours while ensuring the plan aligned with the clients’ philanthropic vision.
We began by analyzing the couple’s charitable giving history over the past three years. We created engaging visual aids that included charts, graphs, and spreadsheets to help them visualize their giving patterns.. These tools facilitated informed discussions about their charitable priorities and how to structure their estate for maximum impact.
We worked hand in hand with the Marings to refine and harmonize their philanthropic intentions, ensuring their legacy would be both meaningful and aligned with their values. We then compiled a list of their 40 chosen charitable beneficiaries, complete with legal names, tax identification numbers, and addresses, so this information could be seamlessly integrated into their estate plan.
To empower the Marings in their decision-making, we provided comprehensive education on the various types of bequests and asset categories commonly gifted through an estate. We also guided them on how to effectively engage with and notify their selected charities. Finally, we collaborated with the couple to craft tailored bequest language and allocate precise percentages to each beneficiary, ensuring their wishes would be executed exactly as envisioned.
The Outcome
Through this collaborative approach, the Marings’ charitable estate plan was finalized on time, resolving their tax concerns and solidifying their philanthropic legacy. The structured process not only alleviated stress for the clients and their attorney but also ensured their wealth would create a lasting, meaningful impact.
At Phīla, our commitment to creating effective, streamlined, and purpose-driven charitable solutions is not only a testament to our expertise but also a reflection of our dedication to ensuring our clients’ legacies leave a lasting, meaningful impact.
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We partnered with the Maring family and their estate attorney to rapidly design a clear, values-aligned charitable estate plan under high-stakes conditions. In just eight weeks, we translated their giving history into a strategic roadmap—identifying beneficiaries, crafting tailored bequest language, and ensuring their legacy would reflect the impact they intended, with clarity and care.
What our clients are saying
“When it came time to work on our estate plan with our attorney, we realized we didn’t have enough information. We had ideas about where to give, but hadn’t decided on a long term charitable giving plan that really matched our values.
Because of Phila’s help, we were able to come to our lawyer prepared with a charitable giving plan we feel really good about. And so does our attorney!”
“Phīla helped us redefine our goals, bring structure to our ideas and interests, assisted us with researching charities, and introduced us to new ones that aligned with our focus.”
“The team at Phīla was a huge help and I couldn’t have done these things myself. You helped to get the client’s goals in order so l could do my part. Our roles really overlap like a Venn diagram. Thank you!”
“My money will not be distributed for quite a while yet, but just to have it done and know that the money will go where I want is a huge relief. I’m so relieved. Thank you-you just did an outstanding job.”
