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  • Case Study

Establishing a Philanthropic Plan for Future Generations

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Jane Monroe and her husband admired the successful life they built: a family with two loving sons and grandchildren and financial security through commercial real estate and land. When Jane thought about the world and future she wished for her sons and grandchildren, she wanted to contribute to their well-being even after she was gone.

Her goal was to find the right philanthropic tool that will serve her family for generations. She also wanted to find a way to engage her sons in philanthropic giving, which was difficult given their very different passions. Before gifting any of their wealth, Jane and her husband wanted advice on how to make the most impact with their wealth.

The Challenges

Looking Beyond Tax Implications

Jane spent countless hours researching philanthropic giving, but as an accountant, she struggled to see beyond tax benefits and ramifications. Her research efforts were going nowhere, which meant they weren’t making critical decisions on their legacy. She needed to better understand:

  • Gifting options. Jane wanted to learn about the different ways she could give—CRAT vs. CRUT, community foundation offerings, etc. She wanted these options broken down in a way she could understand their benefits and drawbacks.
  • How the money impacts future generations. She wanted a clear path of where money is going and how it will help her grandchildren.
  • How her sons could continue donor-advised funds. Jane wanted a guide for her sons to continue managing the funds and keep her legacy alive.

Unsatisfied with their options, Jane and her husband discovered they needed to speak with a professional. They opted to meet with the team from Private Wealth to learn more.

The Solution

Creating an Impactful Gift

From the first exploratory meeting, Jane felt confident working with the Private Wealth advisors. The team had several specialists to help manage their gift, but more importantly, they were dedicated to serving her cause to meet specific goals in the long term.

Working with Jane and her husband, the team helped create a plan for her legacy.

  1. Understanding Objectives and Goals
    The Private Wealth team utilized their discovery process to understand Jane’s objectives and goals for her legacy.
  2. Delivering Solutions
    Jane and her husband were presented with a breakdown of philanthropic solutions that would help them meet their goals.
  3. Execute Giving Plan
    Private Wealth put the selected plan into place, giving Jane a clear line of sight to the future.

Using the Private Wealth approach, advisors delivered a solution that benefits Jane and her husband and will eventually benefit her sons and grandchildren. Private Wealth handled all planning and legal documentation to ensure Jane’s legacy continues into the future, as well as worked directly with the non-profit organizations and legal teams necessary to plan and implement Jane’s funds.

Individual and Family Planning

Private Wealth invested time with Jane and her family to fully understand their goals. The team presented options and customized philanthropic planning to maximize the impact and value of her commitment.

Long-Term Legacy Planning

Jane desired a plan that spans generations. With Private Wealth, she received a strategy and plan for charitable trusts and foundations designed to make her legacy last indefinitely. The team is equipped to manage tax planning, board selections and hands-on vs. hands-off strategies.

The Results

Education and Understanding

Thanks to the Private Wealth team, Jane feels knowledgeable about her philanthropic giving and trusts that her money is making a big impact for her and future generations. Private Wealth presented Jane with a detailed plan that included long-term parameters and management of legal documentation and taxes relating to charitable work.

Now, she has a clear understanding of how their legacy will be remembered and knows she can partner with the Private Wealth team to create a lasting impact in her community.

Is Your Wealth In Good Hands?

Private Wealth can help your family maximize your philanthropic impact to the causes closest to your heart. Meet with a Founder to discover more giving options.

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