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For many philanthropic families, successfully engaging the "next generation" proves challenging. This can be especially true if the family supports a specific community or region in which the younger family members do not live. This paper looks at the benefit of allowing the next generation to pursue their interests in more global issues.

Can you lose a charitable deduction for failing to obtain a correct acknowledgement? A recent Tax Court case says yes. As we approach year-end giving season, know the rules, whether you are giving $500 or $50 million.

While family businesses are playing an important role in the economy and studies have regularly shown that in the long-term they outperform other businesses, there is the continual challenge of succession to the next generation. An estate is built up over the generations and the family grows larger. This source of diversity is not without its challenges: how do you forge a common identity to which everyone can relate? How do you learn to take decisions together while maintaining family harmony?

Why are some families able to pass the legacy of philanthropy from generation to generation while others are not? This white paper by Claudia B. Sangster, director of Philanthropy Services with Harris myCFO, LLC, looks at how to encourage the next generation of givers.

The most successful family foundations are strategic about how money is given away, to whom it is given and for what purposes, and in evaluation of the programs funded and the role of the funder. This paper examines eight strategies that distinguish the most successful family foundations from the least successful ones.

In a family enterprise - particularly in a multigenerational family business - the company is often the dominant aspect of the family's identity. Adding a philanthropic track to the enterprise not only creates a significant return on investment in terms of the company's relationship with its customers and employees, but also can affirm the core values of the family.

Grant-making used to require the manual distribution of information, but now grant program administrators can receive, organize, manage, and distribute applications online. The author highlights the benefits of application management systems and provides guidance in selecting the right system for your organization.

One of the most important aspects of a family’s legacy planning can be philanthropy. Family philanthropy can be thought of as the organized charitable giving by several members of a family to achieve a unified goal. It is more than the annual giving of one individual or married couple, though such giving is critically important in its own right. Perhaps the key distinguishing feature of family philanthropy is the presence of a larger collective vision.

Estate planners who help their clients become more strategic about philanthropy in their legacy planning strengthen relationships with clients and their heirs and significantly increase the likelihood that their clients’ charitable distributions will align with their interests and be more effective. Whether creating a new estate plan or revisiting an existing one, when discussing philanthropy there are certain topics advisors should consider incorporating into every conversation.