Why do you and your family want to give? While it can be difficult to answer, defining and articulating a clear philanthropic purpose should be your north star.
Growing up in a family business environment often rubs off on the younger generations, with some making the decision to start their own business instead of joining the family enterprise. Toward that end, getting help while staying true to their own ideas requires balance.
Teaching the joys, benefits, and responsibilities of philanthropy is often a top-down process. For most families, the starting point in encouraging a philanthropic mindset in children is to identify specific values that matter to them and to live by those values.
Many young adults are looking to increase their knowledge when it comes to managing their inherited wealth. After all, wealth can be a complicated topic—and figuring out what to do with it can be an overwhelming experience.
The way individuals are approaching philanthropy has evolved in recent years, with philanthropists taking the very best of the corporate world and adding more rigor and measurement to how they give back to social causes, reprioritizing how and where they invest, and going beyond financial contrib
Whether knowledge is shared around the dinner table or in a boardroom, starting family member education early puts a family office in a strong position to strengthen the family’s legacy.
