By Dan Flynn, Director of Development & External Relations
When people talk about the “Great Wealth Transfer,” the conversation usually centers on money. Over the coming decades, trillions of dollars in assets will pass from one generation to the next through inheritances, businesses, investments, and real estate.
But I believe there’s an even more important question to ask: What values do you want to pass along?
Some of the most meaningful conversations I have with donors aren’t just about estate plans or charitable gifts. They’re about family. They want their children and grandchildren to understand why giving back has been such an important part of their lives and how generosity can become a lasting family tradition.
Philanthropy isn’t simply something we do at the end of life. It’s something we can share throughout our lives.
When families volunteer together, make charitable giving decisions together, or involve the next generation in recommending grants from a donor-advised fund, they’re passing along something far more valuable than financial assets. They’re sharing the values that shaped them.
As you think about your own legacy, now is a wonderful time to begin the conversation. August is recognized as Make-A-Will Month, making it a natural opportunity to review your estate plans and consider how philanthropy can be part of the legacy you leave.
For some families, that may mean including one of the many funds at the Community Foundation of Howard County in their estate plans or establishing a charitable fund that will continue supporting the causes they care about. Others choose to name their children or grandchildren as successor advisors to a donor-advised fund, creating opportunities for future generations to carry forward the family’s tradition of giving.
Whatever your vision, a legacy doesn’t have to be complicated. It simply reflects what matters most to you and ensures those values continue making a difference for years to come.
At the Community Foundation of Howard County, we’re honored to help individuals and families create philanthropic legacies that reflect their values, support the organizations they love, and strengthen Howard County for generations to come. I’d welcome the opportunity to talk with you, your family, and your professional advisors about building a legacy that extends far beyond financial wealth.