How families use philanthropy as a vehicle for transmitting values and working together multigenerationally.
- Charitable planning involving multiple generations starts with 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.
- With open channels of communication, you can create a philanthropic legacy for multiple generations, engaging the family and benefitting the causes the family supports.
For many individuals, philanthropy is one of the more gratifying parts of estate planning. Adding in a multigenerational component can make it even more meaningful and compelling. Just as every family is unique, so is their philanthropic approach, and there is no single way to involve a family in philanthropy.
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