Philanthropy Insights: Wealth Transfer and Legacies

Posted May 26, 2026 under: ,

Written By Dionne Griffiths, CAP®

In November 2025, I earned my Chartered Advisor in Philanthropy (CAP®) professional credential from the American College of Financial Services. This is a rigorous and comprehensive program for those working in philanthropy. One of the CAP® program courses covers wealth transfer (creating a will and a trust) and wealth transition (the actual transfer of wealth, physically and legally, to one’s heirs or beneficiaries). I found it fascinating to learn about these dynamics and how intergenerational wealth can impact individuals, families, and family legacies. I believe this information – related to estate planning, wealth transfer, and legacies – is relevant to our fundholders, future fundholders, broader newsletter readership, and the community at large. Here are two great books that discuss these topics and that I recommend to our fundholders and subscribers.

Review:

Entrusted: Building a Legacy That Lasts by Andrew L. Howell and David R. York is an excellent book that takes a forward-thinking and innovative approach to estate planning. The main audience is high-net-worth families. But the content and practical steps are also relevant for middle-income households with assets (homeowners, landowners, those with retirement savings, etc.) This resource is written in a practical, accessible manner, with real step-by-step instructions and reflective questions in each chapter. It demonstrates what it means to entrust another person, particularly heirs, with one’s financial wealth and family legacies and values. It also provides insightful real-world examples of how wealth transfers and legacy plans go right or wrong in families. These are teachable moments. I recommend this book for any adult reader who wants to understand, on a very practical level, all the important details and dynamics to consider beyond leaving monetary gifts. Entrusted is a thought-provoking and essential guide in the estate planning journey.

Review:

Madam C. J. Walker’s Gospel of Giving: Black Women’s Philanthropy during Jim Crow by Tyrone McKinley Freeman is a phenomenal read steeped in history, humanity, and resilience. This book details the life of Madam C.J. Walker, a Black woman often referred to as a “self-made” millionaire. Yet, as the author reveals, several mutual aid societies, churches, and Black women’s civic organizations supported Walker (and others) as she sought to improve her life and make a decent living for herself and her daughter. This book highlights that she gave philanthropically as she built her wealth, rather than giving only after she amassed substantial wealth, which was common among notable American male philanthropists of her time.

This book discusses the challenges and barriers related to race, class, and gender in the Jim Crow period in which Walker lived. It highlights how she was determined to beat all odds for herself, her family, and her community. She also believed in and practiced lifting others as she climbed by creating educational and professional opportunities for Black women facing circumstances similar to hers. Walker created a legacy, built a business empire, advocated for opportunities for others, and changed lives for countless generations of Black women (and their families). This book is a testament to the true historical diversity within philanthropy. It demonstrates how philanthropy, in the broader sense, has been used to intentionally create positive lasting change in the lives of others. Walker’s example is a blueprint of purpose-driven giving. I highly recommend this book.

Additional resources related to reclaiming family wealth and assets:

Did you know that the Community Foundation of Louisville provides services for our fundholders, such as planning charitable bequests and assisting with qualified charitable distributions? We also provide customized philanthropic advising related to your charitable giving interests. If you would like to discuss philanthropic advising more, you can contact Dionne Griffiths at dionneg@cflouisville.org.

If you would like to discuss gift planning and your estate, please contact Heather Cash at heatherc@cflouisville.org.