December is a time of giving—both to loved ones and to those in need. But philanthropy doesn’t have to mean simply writing a check and walking away. One creative approach is to consider establishing what I call a Family Giving Fund.
These investment accounts are designed specifically for charitable giving. They allow you to contribute assets now, receive an immediate tax benefit, and then recommend grants to charities over time.
While this strategy is effective for individuals or couples, it’s also a wonderful tool for involving your family in the giving process! Establishing a family tradition of deciding together which causes to support teaches the next generation about stewardship, generosity, and shared values. It’s a way to pass down more than financial wealth—it’s a way to pass down a legacy of care and compassion.
For example, you could dedicate a portion of your Family Giving Fund to support faith-based ministries or local charities making a tangible impact. There are as many ways to care as there are people and causes in need.
Consider my friend Brian: over the years, he has arranged for the donation of thousands—possibly tens of thousands—of blankets to the homeless in San Diego. While the city is known for its temperate climate, winter nights can get bitterly cold. Brian’s dedication to this cause demonstrates how philanthropy, big or small, can make a profound difference in the lives of others.
Involving your family in this process not only strengthens bonds but also instills lasting values in the next generation … Imagine That!™
Table of Contents
An Investment in People
As we prepare for Christmas, let us reflect on the greatest gift we have received: God’s love. This season, consider how you can invest your time, talent, treasure, and touch (your network) in people.
- Time: Volunteer at a local shelter or food pantry.
- Talent: Share you expertise by mentoring someone in need.
- Treasure: support a charity missionary, or organization close to your heart.
- Touch: Leverage your connections to open door of opportunity for others.
These “investments” often yield returns far greater than monetary ones, creating ripples of impact that last a lifetime.
Looking Ahead to 2025
As we approach the new year, it’s the perfect time to review your financial goals. Whether you’re:
- Planning for retirement,
- Optimizing tax and income strategies, or
- Preparing to sell your business or purchase a new one,
I invite you to schedule a time to discuss how we can align your financial plans with your values. Together, we can ensure your resources are not only managed wisely but also positioned to create lasting purpose and impact.
Wishing You Love, Joy, and Purpose!
During this holiday season, I pray that you and your family experience the love, joy, and purpose of the season. Thank you for allowing us to be part of your financial journey.
In His Service,
R. J. Kelly
Chief Visionary Officer
Imagine That!™ is a complimentary bi-monthly newsletter provided by Wealth Legacy Group®, Inc. that addresses various topics of interest for high-net-worth and high-income business owners, professionals, executives and their families. Sign up to receive our monthly newsletter here.
R. J. Kelly, Wealth Legacy Group®, Inc. – November / December 2024
Header image on Canva, one design use license