Beef Magazine is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Consider a philanthropic trust

Article-Consider a philanthropic trust

Your business can be seen as a valuable community resource when you establish programs that help youth, education, or the homeless.

Some family businesses accumulate more wealth than can be productively utilized by the next generation. Some of those assets might be put into a charitable trust.

“History shows us that successful families pass down not only wealth, but also values,” says Arlene Cogen, a certified financial planner and philanthropic leadership consultant based in Portland, Oregon (arlenecogen.com). “A business transition is a good opportunity to set up a philanthropic vehicle such as a donor advised fund or a private foundation.   They allow multiple generations to work, give and serve the community together while reducing taxes.”

Your business can be seen as a valuable community resource when you establish programs that help youth, education, or the homeless.  There is no shortage of need.  “Giving money away is good for business,” says Cogen. “It elevates you in the community and that tends to come back ten-fold.”

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish