The holidays are here, and as families come together to celebrate, charitable giving can be a powerful way to bring everyone closer. While families work their way through delicious meals and light-hearted conversations, the topic of philanthropy is a great way to cultivate a spirit of generosity and instill financial responsibility in all generations. It’s also a way for families to bond over shared values and beliefs as they learn what motivates each other to support different causes.
It probably comes as no surprise that the experiences and characteristics of each generation influence the charitable causes they consider meaningful and important. Finding opportunities to share differing views about giving and volunteering, allows families to better understand each other and maybe even discover where their passions merge. And what better legacy can one generation leave for the next than to inspire an authentic desire to give back and make the world a better place.
Choosing causes to support as a family can also be a fun and unique way to spend time together. The Tuesday after Thanksgiving is #GivingTuesday – a day created for the entire world to celebrate giving. That makes Thanksgiving the perfect time to collaborate as a family about which causes you can support together. And support isn’t limited to monetary gifts – it includes volunteering and using your voices to speak up for the things you care about.
Here are a few ways families can engage in charitable activities together:
- Support a cause in honor of a family member – a gift of money or time.
- Choose favorite organizations to volunteer at together throughout the coming year.
- Talk about organizations and causes that are important to each other.
- Offer a holiday gift of a “charitable grant” to go toward a family member’s favorite charity.
- Use charitable giving as segue to discuss financial responsibility.
- Talk about how important it is to do our part to help others and improve our community.
- Discuss which organizations the family would like to donate to as a group – a donor-advised fund is a great way for families to give together, and it’s flexible and easy enough to make a tradition out of holiday giving.
The number of ways charitable giving brings families together is endless.
Over 50% of charitable donations are given in the month of December – by far it’s the most generous time of year. Whether that’s due to the holiday spirit, to optimize tax benefits, the excitement of #GivingTuesday, or all the above, there’s no doubt that this is a great time of year to support your favorite charitable causes.
As you enjoy the holidays with your family this year, think about leaving a legacy of giving and how the tradition of charitable giving can bring your family closer.
Learn more about donor-advised funds to see if this is the right fit for your family’s tradition of holiday giving. If you have any questions, contact us. We’re happy to help with any of your charitable giving needs.