Benefits of Heritage Planning
For Individuals
Heritage planning helps families to recognize and encourage the intrinsic skills, abilities and interests of each individual member. It creates opportunities for each person to use their talents to make meaningful contributions to the family. Heritage planning also helps individuals develop ‘healthy’ relationships with money, and understand how to use inheritance to accomplish things that truly matter, not just for themselves, but also for their family and their community.
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For Families
Heritage planning deals first and foremost with the unity, strength and harmony of the family, bringing members together in common cause. It helps them to identify and work together towards shared goals while supporting, encouraging and mentoring each individual. Heritage planning strengthens existing family traditions and helps them to create new ones. And, it makes sure that the stories, values, life lessons and experiences unique to the family will be preserved and shared for generations to come.
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For Communities
Heritage planning is good for communities. Over the years, heritage planning professionals have observed that there is a common thread of active philanthropy among successful families; that is, they have determined that enduring families make philanthropy a core component of the activities they take on as a family. No matter how small or large the financial commitment may be (the value and lessons do not come from how much money given, but from the act of giving itself), families who make philanthropy a ‘part of who they are’ realize huge benefits within the family, while at the same time making important contributions to charitable organizations.