Historians have noted, dating back to ancient times, how families have rarely successfully transferred financial wealth for more than three generations. 10% of families beat the odds, however, and succeed in establishing a legacy of financial responsibility and giving back. Families who are successful share common traits, including:
- Training and mentoring each generation.
- Having a balanced view of wealth, which includes philanthropy.
- Sharing a vision with the entire family of what is important to them, in addition to material wealth.
A well rounded estate plan includes provisions for family and other heirs, along with charitable giving. The Roman Catholic Foundation of Eastern Missouri helps donors perpetuate or establish a family legacy in support of their beloved Catholic parish, school or agency. Let us know how we can help. Contact us.