Those of us who advise high net-worth families on matters related to wealth, legacy and philanthropy know that at this time of year clients often become more reflective, not just about taxes or capital gains, but about the world around them, their communities, and their families. The holidays are a time of sharing across generations and between clients and their advisors.  In that context, here are some ideas you can share with your charitable clients to help them make the holidays and the New Year even more meaningful for themselves, and for their families.

What families can do to bring philanthropy home:

·         Start the conversation about values and giving. Take the time to share what you want your legacy to be. Do you intend to make bequests to particular organizations? Designate a portion of your estate to be distributed to charity? Or hope your family will carry on your philanthropic practices? What are your charitable interests? How do you want to leave a mark on the world?  What do you expect from family members? 

·         Make better use of all of those annual appeals.  Have family members bring a few of the annual appeals they receive in the mail to a family get-together. Everyone can take turns talking about why they might consider giving to each organization or why they would not choose to give. This is an excellent way for family members to discover what each other’s interests are and what causes are most important to them and why.  It is also an exercise that can help create the foundation for a formalized family giving plan.

·         Establish a new family ritual. If raising more charitable children is high on your “to do” list the holidays are a wonderful time to introduce a shared experience that can be both fun and educational. Set aside a small pool of funds that the kids can use to give to charities of their choosing.  Let them use the funds individually or collectively and ask them to share how they decided where to give their money and what they did to make sure it was used the way they wanted it to be used.  Alternatively, you could make a donation together as a family in honor of a loved one, or volunteer together as a way of teaching children about community need. 

·         Develop a family giving mission statement.  Ask everyone to write up a few sentences about what they perceive to be the family’s values and goals for charitable giving (such as “protecting the environment” or “ending hunger in our city”). Have each person share their thoughts with the rest of the family. As part of the discussion try to reach consensus around the shared principles that you believe should guide future giving decisions.

·         Create healthy money messages. The holidays bring out our more generous sides but the significant hyper-consumerism that young people are exposed to at this time of year can skew understandings about the value of money. How you talk about and spend money makes a powerful statement. Use the holidays as an opportunity to intentionally link your values with your spending and to have honest conversations about wealth and giving back.

All of these ideas transcend the holiday season; they are applicable year round. In sharing these recommendations, you as the advisor get a gift as well.  Helping your clients to think strategically about their philanthropy can lead to deeper and longer relationships with clients and their heirs as well as lead to additional business opportunities for you.  There is also a sense of pride in knowing that you have helped clients build a charitable legacy that has meaning across generations.