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The Giving Family

· By Sandra Costin Atkins, CPA/PFS · From pages 8 of the print edition

Take a look around Middleburg and you will see many examples of the generosity of our local citizens – from the Middleburg Community Center, to the new houses going up at the Windy Hill project, to the fire department's trucks and rescue vehicles, to activities such as the annual Christmas parade – the list goes on and on. The members of our community give willingly of their time, talent and treasure to support local non-profit organizations that enhance and enrich our lives every day.

How do we pass this spirit of volunteerism and "giving back to the community" on to our children and grandchildren? One technique is to make charitable giving a family affair. At the beginning of each year, have a family meeting and share with your children the amount of money you have budgeted for donations for the year. Discuss annual commitments that you make, such as a pledge to your church or synagogue, and identify the amount of discretionary funds available to share with other organizations. In addition to providing monetary support, it is important that your family charitable giving plan includes some actual involvement in the organizations you choose to support by volunteering your time.

This meeting is a wonderful opportunity to discuss causes that are important to each family member, such as preserving the environment, rescuing abused animals, supporting the performing arts, and so forth. The parents or grandparents should share with the children the types of organizations in which they are involved, as a way to pass their personal values on to the next generation. Each child should be encouraged to identify organizations that support the interests they express. Depending on the age of the children, the family can work together on projects for one or more organizations, or each child can pursue his or her own interests. For example, if helping those who are impoverished is identified as an important issue, the family can set aside one day a month to work at Seven Loaves, in addition to donating food and money to support the effort. An older child, who is interested in helping animals, could volunteer time at the Middleburg Humane Foundation. The goal is to instill enthusiasm for volunteerism in the children by setting an example for them to follow.

The ideal situation is one in which the children can see a clear result from the time they give to a charity, and understand how the cash donation is going to be used for the good of the organization. This is the reason that being involved in local charities is so rewarding, as the results of these volunteer efforts are visible every day.

Sandra Costin Atkins is President of Focus Financial Consultants, Ltd., in Middleburg, VA. The firm offers wealth management services, including comprehensive financial planning, fee-only investment management, and specialized divorce-related consulting.