I read an article this morning that reminded me: Most estate- and legacy-planning professionals ignore philanthropic considerations in their basic planning strategies.

Alexis Martin Neely, for example, notes, in an article printed in the latest Bottom Line Personal, that single adult parents (widowed or divorced, in particular) need to make allowances in their estate plans not only for their personal health care, but also “for the guardianship of any minor children and transfers [of] assets to heirs of your choice while minimizing taxes.”

It struck me: This is the standard mantra of traditional estate planning professionals. For them, estate planning is all about minimizing taxes and maximizing flow-through to the next generation. And it has absolutely nothing to do with larger life purposes, the legacies Read the rest of this entry »

I mentioned that profits have to do with increased wealth; and increased wealth is not the same as cash. If we fail to understand those differences, we can run into some serious trouble.

I thought I would illustrate what I am talking about. Read the rest of this entry »

Last August I wrote a brief outline of what one might want to include in a Gifting Criteria Statement.

As I was picking through a pile of papers on my desk on Saturday, I came across the actual document our family has at the moment. I thought you might find it interesting and, possibly, useful–at least as a discussion-starting model for your family’s statement: Read the rest of this entry »

Charitable giving comes in many forms. Cash donations and hands-on volunteerism are only two.

I have mentioned before the Sonlight Rice Bag Project. The repercussions of that project continue to reverberate in my mind and heart.

This morning, I woke up with the idea that I should write to some people with whom our family business competes. Not about our business, per se, but, rather, about opportunities we–both they and we–have to influence our customers for good.

This is a slightly edited version of the letter I sent. Read the rest of this entry »

Want to stimulate your brain? Observe what others do. You might discover something you would like to do, but never thought of. Or find a way to achieve a goal that seemed beyond reach.

That’s the way I feel about Paul Newman’s last will and testament.

I like that Newman was such a charitable person, so his will includes some good language for bequeathing wealth to charities.

Thanks to the Prudent Planning Blog for the link!

The Wills, Trusts & Estates Prof Blog included the story of a lawsuit settled out-of-court by Princeton University. According to a New York Times story, a $35 million gift given to the university in 1961 “to educate graduate students for careers in government” wound up underwriting most of the “graduate programs at the Woodrow Wilson School of Public and International Affairs.”

Since the $35 million had grown to more than $900 million by June of this year, Princeton wasn’t too keen on pulling any of this money away from its broader uses.

So what happened? Read the rest of this entry »

Matthew 6:3-4 records a statement of Jesus:

But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret. And your Father, who sees what is done in secret, will reward you.

This passage has always made me very nervous. I don’t want anyone to know what I have done, especially when it comes to giving!

So, then, why would I write a post like the one I did last Saturday–Strategic giving? I mean, I got into some pretty fine details! Am I not in danger of disobeying this teaching of Christ? Read the rest of this entry »

The following is not exactly a rehash of what I covered in Tithing, Law, Grace and Teaching, a post I wrote nine months ago in direct response to a “challenge” laid down by our legacy planner at the time. But when I ran into this on Saturday, I realized I wanted–and needed–to re-post it, with slight modification, here. This was the first article that caught my eye on Saturday, but, if you saw my post yesterday, you will realize it is the second among my rediscoveries that I am posting.

(Originally posted, in slightly different form, at Tithing: replaced by grace?

Read the rest of this entry »