A Generous Family is a Successful Family

If you are reading this, you are probably already thinking about your legacy: How can I make sure my family will be successful?

Many conversations about legacy and family success focus only on the finances: how to allocate wealth and how to ensure a successful transfer to each inheritor. The emphasis is on pre-transition decision making, and the work “ends” when the distribution of assets is complete.

But your legacy is much bigger than your finances. Your legacy includes all the assets you pass down to your children and grandchildren: your faith, values, relationships, memories, and vision for the future.

These assets deserve just as much care and planning—if not more—as the final distribution of your material wealth. These values are also what will shape how your family stewards the financial piece of your legacy when the time comes.

Family generosity as the training ground for success

Family generosity plays a key role in bringing faith and finances together. Giving collaboratively can help your family develop and refine the shared values that will define your legacy.

How?

Family generosity creates a common learning opportunity.

Together, you can research and decide where to give, how to give, and how to look for results.

Family generosity creates conversation.

Each family member will bring different insights and priorities as you decide what causes to support. You may learn new things about each other as you work to reach a decision.

Family generosity clarifies your values.

In choosing where to give, we recommend walking through three big questions with your family: What do we value? What is our vision for the future? What role does our family play in that vision? The answers you discover may guide a lot more than “just” your family giving.

Family generosity builds unity.

Even where opinions differ, our hope is that your family can reach a consensus on a handful of organizations you will support together. Unity is ultimately found through love and humility—two important values for any family seeking to steward wealth well.

“Finally, all of you, have unity of mind, sympathy, brotherly love, a tender heart, and a humble mind.” – 1 Peter 3:8, NIV

Family generosity reminds us that God is the true owner of wealth.

The act of giving is a powerful reminder that our wealth is not ours at all—God has entrusted us with some of his resources to steward for his kingdom and his glory. Family giving will prepare your future generations to carry on your legacy of service to God.

Ultimately, family giving is the platform where a family can become a “team” around a shared set of values and mission. All will own it, and all can communicate it to subsequent generations.

This blog was originally published on July 10, 2020.