Yes, legacy is important, but not as important as making an impact as quickly as possible. And billions of dollars can make a tremendous impact — it can truly change the world.
The key donors in the world of charitable giving think big when it comes to giving away their fortunes, and they have even bigger goals in mind for their charities.
A recent Forbes article offers some insights into the thoughts and intentions of uber-wealthy philanthropists. The grist for this journalistic mill was recently a summit held in New York. The article bears the catchy title of “How to Give Away A Billion Dollars.”
It’s worth reading the original article, if not only for a few reported mission statements. One thing to note is the tension between farsighted concerns and legacy in particular, against the desire to see immediate effect and business-like efficiency. This is a very real tension and just may affect how you go about your own charitable giving.
To gain more insight on this topic, you can also research the future of charitable giving with Forbes’ companion piece titled “How The Next Generation Of Wealth Is Revolutionizing Philanthropy As We Know It.”
You can learn more about charitable planning on our website. Be sure to sign up for our complimentary e-newsletter to stay abreast of issues like these that could affect you, your loved ones and your estate planning.
References: Forbes (September 18, 2012) “How to Give Away A Billion Dollars”
Forbes (September 18, 2012) “How The Next Generation Of Wealth Is Revolutionizing Philanthropy As We Know It.”