A Family Tradition of Generosity (Part Two)
In Part One, I shared the story of how Heather and Doug Leung wanted to start a tradition of charitable giving in their family. When they retired, they sold their restaurant business and developed a Generosity Plan™ with Abundance Canada.
Giving Together Is a Fun Family Project
Heather and Doug have always viewed their Abundance Canada Generosity Plan as a family project. Throughout the year, everyone’s input is welcome and encouraged.
Each year, the Leung’s host a big family dinner that includes a formal meeting to discuss which charities they wish to support with the annual earnings from their Gifting Fund™ and how much each charity should receive. These recommendations are then communicated to Abundance Canada. Everyone looks forward to these get-togethers which have become an important family tradition. This year, if the world is still practicing social distancing when their meeting comes around, the Leungs will meet online or by phone.
Generations of Generosity
Each member of the Leung family is involved in the Generosity Plan™ in their own way. Heather and Doug’s children make donations to help build the Gifting Fund™ balance. Some family members are able to donate more, and others a little less, but they are all connected in their family commitment to generosity. By contributing together as a family, the Leung’s are able to make a bigger charitable impact than they would be able to on their own.
The younger family members often ask Heather and Doug about their aspirations for the Generosity Plan™ and the various charities supported by it. The oldest grandchildren are eager to share information about the charities they are interested in one day supporting, and the younger ones have already started asking how they might contribute. Heather and Doug are so happy the next generation is keen to participate and always remind them that they are part of an exciting family project.
Carrying on the Tradition of Giving
The Leungs’ Generosity Plan makes it easy for the entire family to give together right now, and it also ensures that their legacy of generosity will continue after Heather and Doug have passed on. At that time, additional funds from Heather and Doug’s estate will be donated to their Abundance Canada Gifting Fund, and their children, grandchildren and perhaps great-grandchildren will carry on the family tradition of generosity.
While you’re spending time together with your family via videoconference or speakerphone this Easter season, why not start a new tradition of giving together.
*Names and details have been changed to protect the privacy of the individuals
Contributed by Sherri Grosz
Gift Planning Consultant