Wilmington Trust’s Brian Oard and Alvina Lo sat down with Doug Mancino, a Partner with Seyfarth Shaw, at the 2018 Hawaii Tax Institute Conference to discuss the factors families should consider when establishing private foundations and preserving their charitable legacy.Issues Facing Private FoundationsCharitable LegacyPlease see important disclosures at the end of each video.
Turn your year-end giving into a longer-term charitable giving strategy.Even as you strive to be tax-efficient and timely in your year-end giving, those gifts can be part of a longer-term charitable giving strategy.Giving for the long term requires a plan for what charities to support, what assets to give, and what structures to use. Including your family in the process and looking at gifting as a long-term expression of your values can create a fulfilling and lasting family legacy.
How to use family philanthropy as a vehicle for transmitting values and working together multigenerationally. Family philanthropy involving multiple generations starts with a charitable plan that includes the family’s needs, interests, assets, and goals.A family needs to think not only about its portfolio of assets, but also its portfolio of interests, and what they hope to achieve from their family philanthropy.