Education is a cornerstone of everything that we do with Karma & Cents clients. The workshops and seminars we host range from philanthropy training for wealth advisors to specialty workshops for Family Office Managers to family philanthropy retreats for family foundations and charitable fund holders.

The question is…

Inevitably at these sessions we are asked a question about what are the best charities out there. Our answer is this, “It’s not about what are our top charities are, because we have a different social vision from you.  The real question is, what would society look like if the organization you are interested in supporting didn’t exist?“

What usually follows is a pause, some head nodding and that is when the conversation starts to get interesting.  Let’s face it, having a conversation about your personal values is usually saved for close family and friends.  When you are sitting down and discussing your tax planning strategies with your accountant or financial advisor, your social vision usually does not enter the conversation.

Four reasons why you should talk about values when doing your tax planning:

There are four reasons why you should talk about values with your advisors as part of your overall planning process.

  1. You have hired them to build a wealth management strategy and giving money away needs to be managed just as much as the money that is being invested;
  2. At the end of they day, if you have not articulated your values and your desires to those who have been managing your wealth, their job becomes that much harder when they have to communicate your wishes to those who are left to manage the estate;
  3. The opportunity for a cohesive team is at your fingertips.  Integrating your lawyer, estate planner, your family, your wealth manager in the emotional conversation means that questions can be asked, and answers researched in advance for effective planning;
  4. You can tap into their network.  Seriously, leveraging your gift by sharing information about what your social vision means allows for others to buy into it and support you.  You never know, perhaps there’s another Warren Buffett who is looking to contribute to your foundation

Putting this into practice…

On March 12th and 14th we are hosting workshops on Philanthropy 3.0 in partnership with the Alberta Business Family Institute (ABFI) in Calgary and Edmonton.  This workshop will provide you with the tools to start the values conversation.  For more information and to register click here.