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Charitable Giving

So, why do people give? There are many reasons.

Some people have a real sense of wanting and needing to make an impact on society through their charitable giving. They want to make a difference in the world and are willing to share some of their wealth in order to accomplish that.

Others are very concerned about their local community. They may have been raised in the community or the community may have been very good to them, such as supporting their business and making it a success. And, therefore, they want to direct their efforts in making the local community even stronger or better.

Many families are known for their philanthropic activities. They have created a legacy for their family names and in order to perpetuate that legacy, they need to pass on the family values to the next generations so that the younger generations may continue the family’s good work and maintain the family legacy in society.

A sense of guilt is a powerful motivator. Some people feel guilty about their good fortune when others around them are not as fortunate, so they are motivated to give back. Some people feel that with wealth comes a social obligation to give back.

Charitable giving is sometimes simply good business. Many business owners make charitable contributions out of their businesses because it enhances the reputation of the business in the community. The reputation of a business is a very valuable commodity and charitable giving enhances that reputation and builds a substantial amount of goodwill. The end result is that consumers may be more apt to frequent that business because of its reputation in the community.

You Need a Living Trust
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