Source: PARSA Community Foundation
Philanthropy is an important and increasingly popular way for families to come together around shared values, develop a strong sense of social responsibility while also supporting a community and providing tax benefits. Family involvement in philanthropy can take many forms, from volunteering together as a family all the way to leaving a legacy through a family foundation. Involving your family in philanthropy as early as possible can be done in many ways:
Many families can sit together around the dinner table and make their decisions about what causes to support, but families with substantial assets may need to take some extra steps. When making financial decisions, discussing your values with your heirs early allows you to select a philanthropic strategy, instruments and causes that are agreeable to your whole family, Children and grandchildren can be appointed advisors, trustees or board members of family donor advised funds, charitable trusts or private foundations and can play active roles as these legacies are passed down from one generation to the next.
Some things to consider when you plan with your family include:
For more information and resources see learningtogive.org - concrete suggestions for encouraging giving for children of all ages.
A guide to giving for kids written by a 14 year-old girl.
Resources for families to help them make their philanthropy highly effective and strategic.
... Payvand News - 05/13/08 ... --