Giving as a Family: Structuring Philanthropy Across Generations

A guide for families using a Charitable Giving Fund

For many families, philanthropy is more than generosity—it is an expression of values, identity, and long-term purpose. A Charitable Giving Fund (CGF) offers a sophisticated yet flexible structure to manage charitable capital across generations, allowing families to preserve their legacy while empowering future decision‑makers.

When used intentionally, a CGF becomes a unifying thread: introducing younger children to giving, nurturing leadership as they mature, and honouring the wisdom of elders who shaped the family’s success. This guide explores how a CGF can support intentional, family-led philanthropy at every life stage.

Young Children: Introducing Values Through Experience

While young children may not yet understand financial concepts, they readily absorb meaning through stories, routines, and hands‑on engagement. Early philanthropic experiences can become formative touchstones, helping shape empathy, generosity, and a natural understanding of giving.

Ways to involve younger children:

• Design a Grant: Invite children to draw or write about something they care about, then translate their ideas into small CGF grant recommendations.
• Philanthropy Field Trips: Visit age‑appropriate charities such as animal shelters, food banks, or community clean‑up groups, followed by a grant made in their name.
• Purposeful Milestones: For birthdays or holidays, encourage them to include a charity alongside gifts.
• Family Giving Conversations: Use mealtimes to share stories about giving, why your family gives and the difference it makes.

Tip: Children respond powerfully to stories of real change. Sharing examples from your CGF’s grant history can illustrate how generosity translates into action.

Teenagers & Young Adults: Developing Purpose and Leadership

As teenagers and university‑age children form their identity, philanthropy can help them explore what matters to them and assume growing responsibility.

Engagement ideas for this stage:

• Family Cause Showcase: Young people research social or community issues they care about and present Canadian charities aligned to their values. A CGF grant is awarded to the most compelling case.
• Volunteer Hour Matching: Consider matching your children’s volunteer hours with CGF grants to reinforce commitment and responsibility—an approach that can also support and strengthen university or early careers applications.
• The Kindness Key: A symbolic “key” rotates monthly among family members; the holder leads the selection of a charity and prepares a short briefing before a CGF grant is made.
• Story‑Based Discussion: Explore charitable themes from books, films, news stories, or social media to encourage thoughtful reflection.

Tip: Encouraging young adults to follow up on the outcomes of family grants fosters accountability and strengthens confidence in decision‑making.

Adults: Co‑Stewardship and Strategic Philanthropy

As children reach adulthood, they can become true partners in shaping the family’s philanthropic vision. Involving them early can strengthen continuity and help preserve the family’s legacy across generations.

Examples of strategic collaboration:

• Intergenerational Grant Calendar: Co‑design annual themes, priorities, and grant budgets, providing structure while allowing for individual passions.
• Annual Family Giving Day: Establish a family tradition centred on volunteering, reviewing grants, and making decisions together. As the family grows, all generations can participate.
• Impact Reviews & Site Visits: Visit recipient organizations together to discuss outcomes and refine long‑term priorities.
• CGF Succession Planning: Appoint adult children as successor advisors and include them in governance discussions well before transitions occur.

Tip: Begin simply by asking what causes matter to them today. Shared strategy grows from ongoing dialogue.

Seniors: Preserving Legacy and Passing on Wisdom

Older generations often hold the stories, experiences and guiding principles that have shaped the family’s approach to giving. Their voices can provide clarity and continuity for future decision-makers.

Ways to honour and integrate their perspective:

• Legacy Letters: Document their philosophy of giving, hopes for the family, and the values they wish to see carried forward.
• Oral Histories: Record discussions about the charitable causes that supported them or influenced the family’s journey.
• Mentorship in Action: Pair grandparents or great‑grandparents with younger relatives to co‑lead giving discussions or activities.
• Thoughtful Succession Planning: Ensure successor advisors understand the intended direction of future giving, supported by a Letter of Wishes. Your Raymond James advisor can help guide these conversations.

Tip: Capture stories early. The wisdom of older generations is an irreplaceable gift—and foundational to a lasting philanthropic legacy.

Expanding the Circle: Trusted Community and Chosen Family

Many families choose to involve trusted friends, long standing advisors, godchildren, nieces or nephews, or others who share similar values in their CGF. This flexibility allows families to include these individuals in a formal or informal capacity—strengthening continuity and preserving intent.

A Legacy of Purpose That Endures

Integrating your Charitable Giving Fund into your family’s life creates more than a philanthropic plan—it builds a living legacy. Each generation engages in a way that feels authentic to them: children learn kindness, young adults build leadership skills, adults shape long‑term strategy, and elders offer the wisdom that binds it all together.

For families with significant assets, a CGF is not simply a vehicle for giving; it is an opportunity to define a shared purpose, reinforce family cohesion, and ensure your values endure generations to come.

Speak with your Raymond James advisor to learn how a Charitable Giving Fund can support your family’s long-term philanthropic objectives.

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