It begins by educating family members about both your lifetime and testamentary charitable intentions. Sharing your values with children and grandchildren may not only serve to fuel their humanitarian interests; it may foster a greater sense of self-reliance and less sense of entitlement.
And it’s never too early or too late to involve family members in the charitable giving process. Some of our Clients allocate money to their children and give them the responsibility, and honor, of selecting the charitable beneficiary and explaining why they choose them and how the funds will be used.
Then, of course, there are considerations as to the form the charitable contributions will take – the tax benefits, the level of control associated with the different approaches, and the ability in some cases to split the gift to benefit qualified charities and the donor’s family members. There is a lot to consider. Please know that we are here for you to discuss your unique situation and the different approaches to charitable giving that are available to you.