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Giving money to charity should be fun, right? At a time when the need for charitable giving may be the greatest ever, a process that should bring joy and fulfillment to the family often turns into a chore.

Most families of wealth participate in philanthropy for all the right reasons:

  • A spirit of altruism and generosity
  • A belief in the mission and work of a charitable organization
  • A wish to create a family legacy of community stewardship
  • A desire to support and nurture a specific cause

The motives are simple, but successful execution is often much more complex. While Tolleson Wealth Management has always provided support for its families’ charitable activities, more and more seem to struggle with questions like these:

  • There are so many charities that deserve our support, how do we decide where to contribute?
  • How do we separate the great, well-run charities from the ones that are not so good?
  • How should our gifts be structured – should we make a large, one-time gift or spread it out over time?
  • How do we choose which of our assets to give?
  • What about accountability – how do we know our contributions will be used wisely?
  • What are the tax and legal implications of making charitable donations?
  • How do we get our children involved, even if they don’t share our values and support the causes we do?

To address the growing needs and the added complexity, Tolleson Wealth Management has created a dedicated team who can help you navigate the process by:

  • Evaluating the best way to carry out your charitable intentions, whether through direct gifts, or a private foundation, or with a donor-advised fund;
  • Providing the “back office” support for the operation of a private foundation, including grant administration and review, preparation of gift agreements, and charitable due diligence;
  • Providing support for the advisor of a Tolleson Donor-Advised Fund, including assistance with grant recommendations, preparation of proposed gift agreements, and charitable due diligence;
  • Structuring more complex charitable gifts, whether in trust or simply involving more complex gift assets like real estate, oil and gas properties, or private business interests;
  • Managing investments and providing accounting and administrative support for private foundations; and
  • Facilitating family charitable activities, including family meetings or foundation board meetings.

WELL SAID

J-richard-joiner “Once our clients experience the commitment we have in guiding them through all the areas which affect their wealth, we go from being simply a wealth management firm, to being a trusted advisor who, they feel, is integral to their life. Many clients speak quite passionately to me about how much they appreciate all we do for them and their families, and the peace of mind we provide. They are confident that we are focused only on the best interests of their families... because we are”

Richard Joyner – President and CEO of Tolleson Private Wealth Management

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