Family Philanthropy

Abstract

Almost all families make charitable contributions, but for ultra-wealthy families philanthropy may be the main activity for many family members. If the wealth is new you may find yourself advising the family not about where to give their money—that’s very much up to them—, but how to give it. Thus, you will need to become familiar with charitable vehicles like private foundations, donor-advised funds, charitable trusts of various sorts, and also the most efficient ways for family members to give on a personal basis. You may also need to help the family think through the kind of giving program that will best serve the family’s philanthropic priorities while also making a real difference in the world.