Giving Compass' Take:

• From setting goals to planning family involvement, Arabella Advisors examines how wealth managers, accountants, lawyers, or philanthropic and impact investing experts can help individual donors achieve greater impact.

• We all could use expert and professional advice, considering that less than four percent of individual donors hire a personal advisor and only 32 percent put in at least two hours of research per year before giving.

• For some more ways to plan out your giving strategy, try our free personal donations assistant: Giving Planner.

Giving back can be one of your most rewarding activities, but it doesn’t come without challenges. Engaging an advisor to help you plan and work with you along the way can ease the burden and ensure you genuinely enjoy your philanthropy.

If you are fortunate enough to have the resources that allow you to be strategic about your philanthropy, you likely face decisions about the timeline for impact, the vehicles you could use to augment your philanthropy, and if and how you might involve your family. As professionals who have worked in this sector for decades, we encourage you to consider the questions below in discussions with your advisors (wealth advisors, accountants, attorneys, or philanthropic and impact investing advisors like Arabella), now and as your giving evolves.

Resources. It may seem obvious that you will need to know what resources you can devote to your philanthropy, but it’s a point that often doesn’t get the full attention it deserves.

Goals. What are you hoping to accomplish through your philanthropy? Is there a specific topic, geographic area, or persistent problem you’re hoping to address?

Family involvement. Your family may already be involved in your philanthropy in some way, but it’s wise to consider how you’ll want to involve your family in this journey now and in the future.

Vehicles. Gone are the days when a private foundation was the only path for philanthropists. Now more than ever, there are greater options for philanthropists to manage and deploy their resources.

Read the full article about philanthropists and their advisors by Diana Tyler Heath and Andrew Schulz at