A Community Thrives Challenge 2021: DCRAC LAW

Imagine a family’s largest store of wealth stripped upon the death of their matriarch or patriarch!

To address the perpetuation of racial and economic inequities, one solution in our toolbox must include providing estate planning.  Home equity accounts for about 25% of overall wealth and much higher for Black (54%) and Low-Income (65%) households, Estate Planning becomes the most effective tool to combat wealth erosion.

These statistics scream out the discernable financial injustices and challenges lower income and people of color face every day. DCRAC is committed to be a strong advocate by remaining nimble and competitive in fighting to change these statistics.

 At DCRAC Law we provide affordable legal services. Our practice areas are Wills and Estate, Probate, Small Business Formation, Contracts & Document Review, and Consultations—all tied to wealth preservation.  Our below market flat fees are income and family size based. We are statewide, bilingual, and offer services in person and virtually.  DCRAC Law also offers the only free low-income tax representation—a program partially funded by the IRS.   

If you are new to DCRAC, allow us to introduce ourselves:

DCRAC’s mission is to ensure equitable treatment and equal access to credit and capital for all. Our commitment to Diversity, Equity, and Inclusion is inherent to our mission. 

Led for 25 years by an immigrant, Asian-American woman of color, DCRAC understands the challenges facing Delaware’s underserved community, which is statewide, multilingual, economically disenfranchised and largely minority.     

Our purpose is to address barriers to the racial wealth divide that leaves an average American family of color  with only 16 cents for every dollar owned by the average white family.   

2020 was a year unlike any other, but for many in the nonprofit world, there is one aspect that feels painfully familiar: Economic crisis. In our 34 years, we faced the S&L/Gulf war crisis of 1990, the Dot.com/911 crisis of 2001, the 2008 market crash. Every economic tsunami hits black and brown communities in disproportionate and devastating ways. Pivoting and adjusting to new realities is therefore second nature to us. 

With challenges come successes. In 2020, we received $10,000 from this highly competitive Community Thrives grant. 

We serve a community that cannot harness an array of resources, capabilities, and institutional supports to move up the economic ladder with ease.  So we built those supports and launched the Money School, DCRAC Law, and Stepping Stones Community Federal Credit Union. We also recognize the systemic challenges that limit economic mobility, which is why we remain true to our core function of Consumer Finance Advocacy—often the lone voice in Delaware.