A philanthropic legacy can include a bequest, a planned gift, and charitable lead or remainder trusts. A bequest is the simplest way to make a gift. However, there are certain things you should keep in mind before making a bequest. It's important to understand who the beneficiaries are and what the philanthropic legacy can include. A philanthropic legacy isn't just for the wealthy. In fact, it can also be a family affair. It's a way to pass on family values to future generations. One way to do this is by asking each family member about their core values and what charities they feel strongly about. You might even get them involved in making decisions about charitable gifts on their own. It is also important to spell out your philanthropic goals in order to make sure that your philanthropic efforts are in line with those. Don't make impulse decisions or give to a charity that doesn't reflect your personal values. Ask yourself: "Is this really the kind of legacy I want to leave behind?" Julian Robertson was an important figure on Wall Street and in philanthropy. He established the Robertson Foundation and put a great deal of money into several charities. The foundation focuses on poverty issues in New York City, and Robertson has kept up his association with his former Tiger Management colleagues. A philanthropic legacy often begins with an idea or vision to make the world a better place. It might start with an idea to support a nonprofit organization or a vision of engaging your family in philanthropy. To gather more awesome ideas, click here to get started philanthropi.com. The Atlanta Jewish Foundation can turn that idea into a concrete game plan. They can offer guidance and act as a one-stop-shop for legacy giving. A philanthropic legacy can be created with a meaningful gift. For example, the Glenn and Mary Workman Endowment at the Coastal Community Foundation supports St. Luke's Lutheran Church. The Workmans were active members of their church, and they felt it was their duty to give back to the community. Here's a good read about philanthropic legacy, check it out https://philanthropi.com/impact-account/. A private foundation can be an ideal tool to create a legacy. Private foundations allow families to create a framework for giving that is tax-efficient and allows the family to continue supporting the causes they care about after their deaths. In addition to creating a philanthropic legacy, private foundations also provide many benefits, including financial benefits. For one thing, private foundations are flexible enough to adapt to changing family composition and charitable goals. Kindly visit this website https://www.britannica.com/topic/philanthropy for more useful reference.