'Tis the Season for Charitable Giving's Many Benefits

Giving to charity can bring together multiple generations during the holidays to learn about the family’s values. And, of course, there are tax breaks…

A person dressed in a Santa suit holds a jar filled with money and labeled 'Tis the Season to Give.
(Image credit: Getty Images)

The holiday season is the perfect time for families to discuss charitable giving. With everyone gathered for holiday get-togethers, an opportunity opens up to teach younger members of the family the impact they can have through planned giving. This time of year serves as a reminder of the importance of giving back to your community and the feeling you get when you make an impact on the lives of others. Older generations should seize the opportunity of having everyone in one place to discuss charitable giving, among other key financial matters with younger generations.

Giving back as a family can be a powerful bridge to connect generations and create a lasting impact together. The key lies in understanding philanthropic values and employing strategies that resonate with each and every member of the family, making them feel included and valued in the process.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Paula Nangle, CFP®
President, Senior Wealth Advisor, Marshall Financial Group

Paula is the President of Marshall Financial Group in Doylestown, Pa., and has worked in the financial services industry for 19 years. She also serves as a Senior Wealth Advisor and specializes in helping corporate executives and women in transition make complex financial life decisions with comfort and confidence. She achieved her Bachelor’s degree from Rutgers University, Master of Science from the University of Florida and MBA from NYU Stern School of Business.