Track Bequests Using Opportunities

How Many Stages are Necessary?
When starting out, avoid overcomplicating your tracking system. Many organizations find success with just two stages initially: Open and Bequest Documented. The number of stages depends on what you need to track or report on, and you can always add complexity later as your needs evolve.

If you currently track bequests in a spreadsheet, your column headers may translate well into Stages. Consider what you actually report on —if you only reference three of eight stages regularly, this may be an opportunity to simplify the process.

Review Current Bequest Workflow and Related Tasks 
Create Opportunity tasks that align with your current bequest gift process. Donor relations staff might manage updating the opportunity record and status, while finance or accounting teams handle gift recording and processing. Consider which team members would be assigned for tasks within each stage, and use recurring tasks for quarterly or semi-annual check-ins after initial donor commitments.

If you don't currently have a documented workflow, this is a good time to think about the process you would like to have and design the Opportunity Type to fit.

Use Connected Profiles to Create a Complete Picture
Determine the primary contact person, especially when working with couples or families. If the donor is part of a household, it is recommended to add the household profile and spouse, if a spouse profile is created. If adult children are involved in the estate planning process for a parent, their profiles can also be connected.

Once gifts are realized, the estate profile can also be connected to maintain a complete picture.
 

Track Referrals from Professional Advisors
When donors work with attorneys, financial planners, or other advisors, it is recommended to add both the individual professional and their firm to the opportunity. These advisors may have introduced the donor to your organization and served as important partners in the process.
 

Target Dates Can Act as Milestones
Set target dates as milestones—initially for when you hope to receive formal documentation, then the Target Date could be adjusted to track gift processing timelines after notification of the donor's passing.

Review the Log available on an Opportunity record. This can help with documentation of each related change throughout the process.

Solicited Amount as a Starting Point
Does your organization require a minimum amount needed to open a fund or for a new fund to make grants? This could be a starting point for populating this field and is easily edited with a more targeted amount as needed. 

Committed Amount Can Evolve as the Opportunity Develops
Once an amount is known or changed, this field can be adjusted. While neither of the amount fields is required, they can be helpful for reporting. As gifts are tied to the Opportunity, it will display a remaining balance amount.

Add a Fund When the Time Is Right
Will a fund be created once the bequest is realized? Tasks can help track when the fund record will be created and then added to the Opportunity. If there is an existing fund the donor wishes to support, this can be added at any time.

Use Beneficiary Profiles to Track the Donor's Wishes
If the gift or future fund will support specific organizations designated by the donor, the beneficiary profiles can be added at any time. Multiple beneficiary organizations can be included by using the Additional Beneficiaries field. Adding notes to detail the intended support for each beneficiary is a helpful way to document the donor's wishes.

Consider if Custom Fields are Needed
Consider if you need custom fields to track information that is not already available within Opportunities, as a note, or on the profile’s record. Common Opportunity custom fields can include:

• Prospective fund type and name to track this information for when the fund record gets created in the future.
• Type of gift (life insurance, will provision, trust, etc.).
• Insurance policy or stock details.

Define what each stage means for your organization, what activities and tasks it encompasses, and what criteria must be met before advancing to the next stage. 
The framework below is a suggested approach including what could be tracked within each stage. It is not a prescription for your specific situation. 

Stage 1: Open

This stage begins when bequest conversations start and continues until you receive formal documentation. 

Understanding the Donor's Interests 
Gather information about the estimated bequest size, intended beneficiaries, and philanthropic interests. 

• Will the gift support existing funds or create new ones? 
• What areas matter most to the donor—the arts, unrestricted support for pressing community needs, scholarships, or fields of interest?

Document Conversations 
Document touchpoints including phone calls, emails, and in-person meetings related to the opportunity. Record not just when conversations happened but what was discussed, as donor interests and intent often evolve over time. These conversations help shape what the bequest will ultimately support or the nature of the bequest itself.

Establish clear guidelines that your organization can reference for when to add notes to opportunities versus profile records. Opportunity notes will roll up to display on the profile record unless configured otherwise.

Ongoing Stewardship
Use reporting to identify Opportunities that haven't been updated in several months or a year and create re-engagement lists. Invite donors to events aligned with their philanthropic interests to keep your foundation top of mind. Lean on recurring tasks as reminders to reach out quarterly, annually, or any time frame that makes sense.

Stage 2: Bequest Documented

Once you receive written documentation—whether through a foundation-provided form, a copy of an insurance policy showing your organization as beneficiary, or relevant sections of a will—advance the Opportunity to this stage.

Documentation Management 
Consider attaching supporting documents directly to the opportunity record for easy reference.

Recognition Programs 
If your organization has a Legacy Society or other estate planning recognition program, the donor's profile can be tagged with a profile type or added to the recognition list. These members might receive special recognition in annual reports, on your website, VIP event invitations, or come to site visits with grantees.

Finalizing Details 
Update custom fields, notes, and any additional information now that the commitment is formalized. If the donor intends to open a new fund, document those details. If they've selected an existing fund, link it to the opportunity.

Using Promises 
For bequests with detailed lists of specific gifts, consider using promises to track expected contributions with defined timelines. Promises have no general ledger impact but can be linked to the opportunity and later converted to actual gifts.
 

Stage 3: Realization Notification

When you receive notification of the donor's passing, move to this stage to begin administrative processes for receiving the gift. An order of operations for this can include: updating the profile to mark it as deceased will set in motion notifying related team members, creating an estate profile, setting note alerts, updating the opportunity record, and more.

Create an Estate Profile 
It is recommended to create an estate organizational profile that will be used to record all gifts received from the donor's estate.

When creating an estate profile, it is recommended to include these criteria:

• Create it as an organization type profile.
• Link the deceased donor's profile to the estate profile.
• Link the household profile (if applicable) to the estate profile.

Alert the Team 
Place alerts on the donor's profile (and household and spouse profiles if applicable) so your gift entry team knows where to record gifts when checks or electronic transfers arrive.
 

Stage 4: In Process

Use this stage to track active gift entry, creation of a new estate profile, new fund record, and processing of complex assets that require time to liquidate— e.g., stocks that need to be sold, gifts of real estate, jewelry, or art.

Once the gift is linked to the Opportunity, it will be reflected in the balance amount.  

Stage 5: Closed

Close the Opportunity once all gifts have been received and processed, all notes have been updated, and tasks have been resolved. Ultimately, what is considered a complete status and successful or not successful is determined by your organization.

When to Create the Opportunity
Determine at what point in your process you'll create the Opportunity. Many organizations create them once serious conversations begin and there is a need to track activities and tasks leading toward formal documentation.

Consider who creates the opportunity and what that process looks like for your organization. It is recommended to use the Copy functionality to copy an existing bequest opportunity or a bequest opportunity set up as a template to ease administrative burden. The option to copy with all related tasks can save a lot of time if there are consistent, repeated tasks and actions to be completed. 

Establish a Communications Plan
Letter templates are available for opportunities for generating letters with key information about the conversation or related action item. Opportunity letters can re-energize conversations with donors that have not yet documented their planned gift with your organization. It can also help with record keeping because the generated letter can be attached automatically to the opportunity record.

Manage Unusual Gifts
Prepare your organization for non-cash gifts before you receive them. Are you equipped to sell valuable art or manage the sale of real estate? Having policies and processes in place prevents scrambling when complex gifts arrive.

Account for timing and approvals if the gift requires new policies, board/committee approval, or legal review.

Handle Existing Pledges
If a donor has existing pledges that are partially fulfilled when their bequest is realized, determine how to handle these commitments.

This may require close coordination with finance and donor services teams. A review of gift and pledge processing policies and permissions may help define who will be creating and linking these commitments and donations to the bequest opportunity.

Multiple Opportunity Types: Yes or No?
Some organizations create separate opportunity types for bequests that will open new funds versus those directed to existing funds. Before adding this complexity, consider:

• Is there a fundamental difference in the stages or tasks needed to track these scenarios?
• Can custom fields accomplish the same tracking goals?
• Are you starting from scratch or managing an existing process?
• When in doubt, start simple. Custom fields and notes can capture distinctions without requiring separate Opportunity Types. You can always add complexity later if genuine process differences emerge.