Giving Compass' Take:

• Scott Storick, writing for Medium, lists how parents can involve their children in philanthropy to maintain a family legacy of charitable giving. 

• What are the core elements that can make family philanthropy successful? 

• Read the Giving Compass Family Philanthropy Guide for donors. 

One of the greatest transfers of wealth will be taking place over the next decade as Baby Boomers will be passing on their estates to their children. If history is any indication, most of that fortune will be lost inside of three generations.

This is why it is important to get your children involved in financial matters at an early age. One of the best ways to teach them about money and your values is to get them involved in philanthropic activities. By following a few simple strategies you can lay the groundwork for their financial education and ensure that your charitable legacy will remain intact.

  1. Document your philanthropic history.
  2. Create a family mission statement.
  3. Get them involved.
  4. Allow your children to decide where to contribute.

Read the full article on involving your children in philanthropy by Scott Storick at Medium