Philanthropic Family Values

April 20, 2011 at 7:10 PM Leave a comment

“As baby boomers begin to retire, thoughts turn to ensuring continuity in family giving.” At Forbes, philanthropy adviser Betsy Brill discusses the passing of the charitable baton from one generation to the next. Key is engaging the younger generation early:

The key to developing a strategy for multigenerational engagement is customizing activities that suit the particular personalities, skills and life experiences that family members bring to discussions about wealth and values.

Warren Buffett has given each of his children money to start their own foundations, rather than try to direct their giving. (Indeed, he’s given his own money to Bill Gates to give away.) I suspect some flexibility is required; your heirs will usually follow their own interests either way, may as well build that fact into your plan.

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Entry filed under: General.

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News about philanthropy and the charitable instinct

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