Many of us adults give considerable thought to how we will pass along our money to the rising generations in our families when we die. Far fewer of us also consider how we will pass along our “value assets” – our family’s unique approach to community, giving back and helping others, while we’re living.
Multigenerational family philanthropy creates a unique opportunity for every family to set a new table so that all adult and young adult family members are invited to sit, share, develop and act upon common values and goals around money and philanthropy.
Creation of a good mission statement is a worthwhile endeavor. It involves and educates current and future stakeholders, enforces focus, clarifies decision-making, and provides valuable information to nonprofits and other donors alike.
The Giving Pledge has been successful in encouraging philanthropy among the ultra-wealthy. However, this good idea should not be restricted to billionaires. Each of us can make a personal, achievable pledge to receive less — and give and do more to help address society’s urgent problems.