By 2045, roughly $84 trillion will transfer to family heirs and philanthropic causes. But, as founders of family foundations prepare to transfer significant wealth to heirs, new trends show something of interest: the Next Gen is not completely aligned with the founder’s philanthropic views.
Over the last ten years, philanthropic giving has shifted. What used to be significant giving to education and literacy is now concentrated on human and civil rights as well as environmental issues. This shift in philanthropic giving may give some founders pause. They may even stall transition of the family foundation because of philanthropic discrepancies.
As families shift from a founding donor foundation to a multi-generational foundation, it’s important to open conversation—and get aligned—on philanthropic expectations and family engagement.
This article outlines five steps to help you get started.
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