Many people are discovering charitable giving is a great way to strengthen family bonds while teaching children and grandchildren about their family’s values and traditions. A number of our AMG clients have made philanthropy a family affair and are cultivating the next generation of donors and building their social awareness at the same time. Here are some tips:
- Talk to your family about what matters to you and them. Tell them why and how you choose to support certain charities. Ask them what charities and causes they are interested in and why.
- Encourage them to create their own tradition of supporting a needy cause by volunteering and donating annually.
If you have created a foundation or donor-advised fund:
- Ask family members to share in the foundation you have created and involve them in the foundation’s investment management.
- Assign a set dollar amount from which each family member can direct distributions for their own charitable giving. These family members, under your foundation, are creating a charitable tradition of their own.
The AMG Charitable Gift Foundation can help you create a family tradition of philanthropy and a lasting legacy.