Skip to main content

Charitable Children

Charitable Children

Q: We’re just approaching a liquidity event. How do I get my twentysomething children involved in our plans for philanthropy?

A: Stop right there. You might be 10-20 years late.

Many families do things in the following order: create wealth, extract liquidity, then give charity in a big way. Now, that makes plenty of sense. You can’t give charity in a big way until you have the liquidity. And creating a foundation as a vehicle to perpetuate giving is usually most tax effective when done in conjunction with a liquidity event. But this process leaves out the most important step: the “why”. by David Werdiger

Print Friendly, PDF & Email

Leave a Reply

Time limit is exhausted. Please reload CAPTCHA.