Charitable giving is a precious gift and a way to join together with family for a common goal. Here is an example of a letter to family:
In our hearts, we hold a special place for those organizations who have directly or indirectly served our family, our community or country. As a family, we have united together for common interests and strive to continue the best level of gifting we can do. From the interactions we experienced, we found a common element that is
necessary with all families…the art of giving.
Charitable giving, either with our time as volunteers or monetary support through financial resources, has been integral to how we live. As a side line benefit, we have been able to maximize our legacy, financial and otherwise, by minimizing taxes and uniting family members with differing financial capabilities. We have found a common thread among families that is not painful – the art of philanthropy – and giving money that has been set aside to gift was something not only worthwhile but feasible. It can actually be done.
Our purpose is to continue the enriching experience we gained during our lifetimes through our family Donor Advised Fund. We are making an additional gift to this fund at the time our legacy passes to you. It is your dad’s and my hope that as you work together in addressing issues, challenges and celebrating differences and successes
of family members, you will unite together for important work to support charitable interests that need you.
Use our fund to bring together the younger generations, your children, nieces, nephews… our grandchildren and great grandchildren as they are so bright a generation and can get involved by researching charities that may benefit from a gift or that need help with a project.
If we have not yet done so, develop a family website where formal grant procedures can be put in place. Your families can share what is most important to them in addition to the philanthropic common element on an ongoing basis. Young members can develop the important art of giving back by preparing presentations and interviewing the organizations, followed by volunteer work. They can tell of their experience and why the charity of their choice should be granted an award from the family DAF charitable fund. The family can work together to make decisions on how much should be given.
They can learn to review portfolios and, as a great side benefit to all this, work towards a common mission to develop the ability to have intelligent, open discussions about money. An outcome can be seen through development of a family mission statement of your own. Learn the art to facilitating a family meeting where you can set an example for the fiscal responsibilities they will assume with our and your legacy one day. They will develop legacies of their own that will extend beyond this
charitable fund. They may gift to this fund on their own and help to grow it, and the continued endowment to fund great purposes for nonprofit organizations in the
communities in which they live.
In the businesses you work, focus a piece of your time and resources on philanthropy.
We have been blessed and can help.
Love, Mom and Dad”
Seek the privileges of giving back and search out the options that fit best for your family. They will appreciate what you pass on and the gift you leave them of giving.
Kim Ciccarelli Kantor
Kim Ciccarelli Kantor, CFP® CAP™ is president and
founder of Ciccarelli Advisory Services Inc., a Family Focused
Wealth Management Firm in Florida and New York.
Ciccarelli Advisory Services, Inc. is located at 9601
Tamiami Trail North, Naples, FL (239.262.6577)
Investment advisory services offered through Ciccarelli
Advisory Services, Inc., a registered investment adviser
independent of FSC Securities Corporation. Securities and
additional investment advisory services offered through FSC
Securities Corporation, member FINRA/SIPC and a registered
The views expressed in this newsletter may not reflect the
views of FSC Securities Corporation.
Although the information has been gathered from sources
believed to be reliable, it cannot be guaranteed. Federal tax
laws are complex and subject to change. This information is
not intended to be a substitute for specific individualized tax
or legal advice. FSC Securities Corp. does not offer tax or legal
advice. As with all matters of a tax or legal nature, you should
consult with your tax or legal counsel for advice.