There are many ways to donate money or assets to a good cause, and one of them is to remember charitable organizations in your will. In the FinFocus section, representatives of foundations, philanthropists, and experts were asked about their experiences with this trend. According to their responses, donors today are not just those who do not have close family members. „It is not uncommon for cases where the testator thought of both their family and one or more charitable organizations at the same time,“ says Šárka Procházková, the director of the Dobrý anděl Foundation.
Jan Kroupa, the vice-chairman of the Czech Fundraising Center, notes that the number of wealthy individuals in the country who commit to leaving a significant portion of their wealth to charitable purposes is increasing. „The first Czech entrepreneur to do so was Martin Hausenblas, who bequeathed 30 percent of the shares of his companies to two local foundations and called on other successful businessmen to join him,“ he says. Although Hausenblas is currently on maternity leave, his commitment still stands, as confirmed by Hrot.
Kroupa also mentions that the range of charitable bequests is expanding in the Czech Republic, with assets such as stocks, bonds, collections, patents, and even cryptocurrencies being included. However, not everyone views charitable wills positively. Josef Podlipný, a partner at Fichtner Wealth Managers, believes that passing on only assets without a mission or vision is not ideal. He argues that wealthy individuals with children should not be obligated to leave all their wealth to foundations, as preserving family wealth and passing it on through generations is a more meaningful path.
The article further explores the increasing awareness of charitable bequests in the Czech Republic through insights from various foundation directors and philanthropic figures. Zuzana Tornikidis from the Agrofert Foundation, Barbora Bachmeierová from the Simona Kijonková Foundation, Monika Vondráková from the Neuron Foundation, and others share their perspectives on the growing trend of donating through wills.
The piece also delves into the comparison with countries like Sweden, where leaving part or all of one’s estate to charitable causes is widespread, especially in supporting science and research. The importance of discussing death openly in society and the role of non-profit organizations in critical situations are highlighted as factors contributing to the rise of charitable bequests.
Moreover, the article touches on the professionalization of the philanthropic sector and the implementation of the Czech Foundation Code to ensure responsible governance of charitable organizations. Petr Laštovka emphasizes the significance of family dynamics and the ecosystem of giving in influencing decisions to donate through wills.
In conclusion, the article sheds light on the evolving landscape of philanthropy in the Czech Republic, with a focus on the increasing prevalence of charitable bequests and the changing attitudes towards leaving a legacy for future generations. The diverse perspectives presented offer valuable insights into the motivations and considerations behind donating assets to charitable causes through wills.