Passing on family values to the next generation is an important consideration when creating an estate plan. A donor-advised fund can be used to create a “foundation lite.” With the next generation family members set as nominal board members, they learn important business skills by presenting charitable proposals to the family, and also learn how to implement family values into business decisions.
See Kyle Brownlee, To Help Clients Teach Heirs, Try a ‘Foundation Lite’, Financial Planning, Feb. 26, 2015.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
