Introduction  

To give or not to give? That’s rarely the real question. Most people already know if they are inclined to support causes they are passionate about. They are aware of their capacity to contribute and have likely determined the most tax-efficient way to fulfill their philanthropic goals with their advisory team. So, what is the real question?

Key Questions to Consider  

How do we decide which causes to support? How do I say no to organizations that don’t align with our values? How do I ensure our philanthropic efforts continue after I’m gone?

The Challenge of Disagreements  

Often, the desire to give is present, but conversations about differing priorities can create obstacles. These disagreements can sometimes halt philanthropic activities altogether. In my practice, I frequently encounter discussions about the desire and ability to give, yet disagreements between spouses or family members on where to allocate funds can cause friction. While tax benefits are often assumed to be the primary motivator for philanthropy, studies show that the drive to give is more emotional and personal. The tax benefit is merely an added bonus.

Aligning on Philanthropic Goals  

How do we align on our philanthropic goals? Reflect on your life’s journey. The actions that provided a positive emotional response are the ones we remember most. The same applies to giving back through financial success.

Developing a Family Mission Statement

If disagreements are causing a pause in your giving, developing a family mission statement might be the solution. This exercise involves intentional thinking and conversations, leading to a shared agreement and focused, purposeful giving. It enables families to pursue their philanthropic goals confidently, knowing they are using their wealth for good.

The Importance of Intentional Giving

Defining intentional giving is crucial. It allows families to politely decline requests from organizations that don’t align with their mission statement, focusing solely on those that do. Creating a family mission statement is the first step towards beginning your giving journey.

Overcoming Emotional Barriers  

Reaching agreement within a family can be challenging, often hindered by emotions. However, there are processes that can help families create a disciplined and dedicated Family Mission Statement, setting a clear philanthropic path. Start by taking a moment in silence to reflect on your life. Consider the experiences that shaped you and the passions that drive you. From there, you can define the values that underpin these passions and form the basis of your Family Mission Statement, ensuring your legacy of giving endures for generations.

Conclusion  

If your advisory team isn’t facilitating these conversations, reach out to me and my team.  Don’t let obstacles impede your dreams and desires to help your community and others.

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