Charitable Giving

Charitable giving may be an uncomfortable conversation for a professional advisor to initiate with a client, but for Judy Hilgenberg it has become second nature. Ms. Hilgenberg has been a member of Wells Fargo’s Wealth Management Group for 17 years. Her role includes developing and implementing tailored wealth management plans for Wells Fargo customers.

“Our approach begins by focusing on 12 key issues that constitute a wealth management plan,” Hilgenberg said. “One of those issuess is charitable giving.”

Ms. Hilgenberg approaches this subject by asking the question, ‘what charities or causes have you supported through your life?’ She says that when you combine an interest in philanthropy, potential tax benefits, and the ability to incorporate children and grandchildren in the process, it is a very meaningful discussion.

“As people realize their financial resources exceed their material needs and those of their family, they have a desire to give back because of the blessings or fortune in their lives,” Hilgenberg said.

“The biggest challenge of charitable giving is designing a plan to meet a client’s philanthropic goals. Ms. Hilgenberg says that in her experience most people want to give to a cause or program they have identified with or one that they have a personal connection to.

Ms. Hilgenberg has worked with many clients throughout her career, but one in particular stands out. Irma Jepsen lived and worked in the Quad Cities her entire life. Ms. Jepsen did not have an immediate family of her own, but was fond of children and sports. Approximately half of Irma’s estate would have been consumed by estate taxes if Ms. Hilgenberg had not brought up the possibility of charitable giving.

“I shared with Irma the good she could do in the community,” said Hilgenberg. “Over time we were able to identify charities and programs she wanted to support after her passing.”

In 2001, Ms. Jepsen left a portion of her estate to the Community Foundation. The Irma L. Jepsen Fund supports after school programs and educational activities for children, ensures new reading materials are made available at the public library and assists the mentally ill and the disabled.

“I am very pleased and proud to have helped Irma leave her legacy,” said Hilgenberg. “I love doing what I do because we [professional advisors] can help make a difference in our clients’ lives.”

She also credits Wells Fargo’s wealth management procedures for her success.

“We’ve got a great process,” Hilgenberg said. “We are very disciplined in our approach, have vast resources available and have a very local and personal focus with our clients.”

Ms. Hilgenberg was invited to join the Community Foundation’s Advisor Circle for her work in guiding others through the process of considering, planning and making planned gifts to our community through the Foundation.