Raising Money from the Dead
The theory is that people should be most willing to part with their money for charitable causes when they are dead. The challenge is how to get them to commit to this course of action before it is too late for them to do so. Universities and healthcare institutions in the U.S. have led the way on in getting bequests and legacies from donors – what has come to be known as “planned giving.”
The level of planned giving in Asia is not as significant as it could be. This is probably due to the low level of estate duty, and an Asian culture that frowns on raising the subject of death. But the potential of cultivating this new source of giving is great. It should thus be proactively promoted, even to the extent of creating a mini-industry around it.