The Advisor's Role in Philanthropy: A New Direction

When charitable giving makes sense for a wealth client to consider, the advice given by a lawyer, accountant or banker can be crucial.

For many reasons, there is an increasing focus on the “intergenerational” transfer of wealth, estimated to be as much as eight trillion dollars over the next two decades. In essence, all the wealth that has been built in this country since World War II will pass in unprecedented amounts from the generation over 50 years of age to their children and grandchildren. In this process, advisors to the wealthy have an extraordinary opportunity to recommend techniques that will satisfy the desires of clients with respect to the amount and ways in which wealth is passed from one generation to the next and, at the same time, have a significant impact on the well being of society.