Family business legacy planning involves many considerations, such as training, timing, and transferring of interests. Another component of this planning should entail the long-term vision of philanthropic goals for future the generations. In 2015 eighty-one percent of the largest family businesses performed philanthropic endeavors, likely understanding that this charitable spirit was a key element of keeping the bonds of family strong through generations. Below are the top four considerations to look at when bringing philanthropy into the folds of your closely held business.
- Philanthropy can provide the clearest picture of your family business.
- Benefits to the next generation are plentiful.
- There are various ways to achieve family business philanthropy
- Wealth management