Making giving a family legacy.

By Tresp, Day & Associates · February 4, 2021

Many families want their wealth to reflect their values and to teach the next generation stewardship rather than entitlement. Structured, multi-generational philanthropy accomplishes both, turning giving into a shared family enterprise with real staying power.

The vehicles

A private foundation gives a family lasting control over its giving, a platform to involve heirs, and the ability to employ family members in its mission. A donor-advised fund offers a simpler, lower-cost way to give with flexibility. Charitable trusts (remainder and lead trusts) blend giving with income or wealth-transfer goals. Each carries distinct tax advantages.

Involving the next generation

The real power of generational philanthropy is participation. Bringing children and grandchildren into grant decisions and foundation governance teaches financial responsibility, shared values, and the mechanics of managing wealth, a form of education no document can provide.

Coordinate with the whole plan

Philanthropy works best woven into your broader estate and tax planning, where charitable strategies can reduce taxes while advancing your mission. Tresp, Day & Associates helps families build giving into their legacy.