Legacy

Your philanthropic strategy: A powerful tool to transfer family values to the next generation

Many families today are increasingly concerned about how they can ensure their personal values are successfully transferred to the next generation.

These families often walk a fine line. They want to transfer assets to their children in order to provide them with a level of financial security. While at the same time ensuring that their personal values of hard work, philanthropy and shared responsibility are also passed on to their kids and grandkids.


A powerful tool

One of the most effective ways to accomplish this goal is to develop a family philanthropy and giving strategy. This can be a powerful tool not only for transferring wealth, but also for instilling values that can last for generations.

Devising such a strategy helps ensure that issues surrounding both family wealth and family values are openly discussed among all family members early on. This can help your heirs better understand their specific responsibilities for maintaining the legacy and values you’ve cultivated over your lifetime.

True success can come not only from providing the next generation with financial security but, more importantly, in teaching them how to use it with intent and purpose.


Read the full story at Dallas Business Journal.

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Editor's note: Stories appearing on NCF's website from third-party contributors are intended for informational purposes only, and we do not endorse or approve the content, services, products, or theological teachings they contain. Any questions or concerns may be directed to the original publisher of such third-party content.

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