As high-net-worth investors discuss plans for charitable giving and investing with their financial advisors, it is absolutely crucial for them to be on the same page in terms of the outcomes desired, both financially and philanthropically.
Women have become financial powerhouses and have taken on an increasing role in managing wealth to the tune of $11.2 trillion. Some estimate that by 2030, women will control as much as two-thirds of the nation’s wealth.
Single family offices are increasingly faced with the topic of succession whether triggered by an upcoming departure of a family office executive or a broader transition in generational family leadership.
Strategic philanthropy is similar to intentional asset allocation in that it requires as much of the giver’s intellect as it does the bank account. A careful and disciplined approach to philanthropic giving combines purpose, practicality, and passion.
Travis Roy’s story is well known—in 1995, the rising college hockey star suffered an on-ice injury that left him paralyzed from the neck down after only 11 seconds of his first Boston University game.
While many families are expending effort on important concepts such as improving financial literacy, defining family shared values, and creating family mission statements, such efforts are likely to be lost if families do not first focus on one fundamental aspect of a successful family: Communica
Your first home, establishing your career, marriage, a new baby, a teen’s first car, a student going to college, retirement—many of life’s major events can affect not only your life insurance and estate plans but also your property and liability insurance.
Just as an individual goes through life cycles, so does a charity. From the start-up phase to adopting a strategic vision to looking at ways to grow the charity, there are many steps to consider at each important phase of the charity’s lifetime.
