Building a Family Tradition of Generosity

Jamie and Peter have long supported the small Virginia community where they raised their children. Now retired, they are considering how their generosity might continue as part of their legacy. They observe how their children, who now live in Washington, D.C., also prioritize giving—but their busy lives and many worthy causes compete for their attention. Distance and competing priorities add complexity, and Jamie and Peter recognize that the next generation may express similar values in different ways.

Your circumstances may be different from Jamie and Peter’s, but the underlying question facing your family may be similar: How can a family carry its tradition of generosity from one generation to the next?

A conversation about values and priorities can be a good place to begin. There are several ways that you can have these value-based conversations. Here are a few suggestions to start with:

• Identify your family values – What values are important to you? What values are important to the rest of your family? Are they the same or different? How come? Approaching these conversations with openness and genuine curiosity can help reinforce or exemplify these values.
• Set aside time to talk – It is important to create space for these giving conversations. Consider the upcoming holidays as an opportunity when family is gathered to discuss meaningful ways to give – from money, to time, to energy. You might even consider organizing a family fundraiser or volunteer activity.
• Share your charitable intentions – We encourage you not to wait until the future for your family to learn about your generosity and the values that inspire it. Although you do not have to be explicit about the amount, share the ways that you volunteer your time, money, and energy.
• Include family members of all ages – Everyone can participate in an age-appropriate way, helping generosity become a shared family practice. Younger family members might name a shared value, contribute part of an allowance, help choose an organization to support, or join the family in a volunteer activity.

These conversations do not need to happen all at once nor do you need to navigate them alone. Advisors can help clients facilitate conversations about charitable giving, whether as an individual, a couple, a household, or even across generations. Together with your Apella Wealth Advisor, you can prioritize a structured time to explore and define what generosity means to your family. By beginning these conversations now, you can build a shared tradition of giving that continues to thrive for generations to come.

Apella Capital, LLC (“Apella”), DBA Apella Wealth, is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered or excluded or exempt from registration requirements. Registration of an investment advisor does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Apella Wealth provides this communication as a matter of general information. Any data or statistics quoted are from sources believed to be reliable but cannot be guaranteed or warranted.