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5 Steps to Starting a Giving Plan

Every Thanksgiving, one of the families I work with goes beyond acknowledging what they are grateful for; they look for ways to give back. Both the older and younger adults go around the table talking about what charitable causes are really important to them and why. From that conversation, they list their philanthropic goals and plan for the coming year.

At Aspiriant, helping clients set up a charitable program is one my favorite things to do. It’s exciting to sit down with families and discuss what’s truly important to them and all the inspirational ideas they have. Many families are strongly motivated to share their success to help make the world a better place, and they approach the mission with a serious sense of responsibility.

But even for families used to giving, beginning the formal process can seem overwhelming. Families typically start off with more questions than answers. What charities are the most important to us? How often do we want to give to them? How much can we afford to give? What type of giving vehicle is best for our family’s long-term financial goals? I find that the process of establishing a giving plan is a lot easier, and can even be more fun, if you break it down to these five simple steps:

Nikki Michelini CPA

Nikki has over 16 years of experience in helping families successfully navigate financial decision-making. Her area of specialty is Family Office Services, which involves serving as the primary relationship contact for many clients at Aspiriant and leading a multi-disciplinary team in all aspects of planning and consulting services, including investments, taxes, estate planning, risk management, a...(Read More)

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