Philanthropy - Gaining Families Trust

Five people e-mailed her the same response: Get a copy of the book Wealth in Families, by Charles W. Collier, a senior philanthropic adviser at Harvard University. Ms. Schrader read the book and liked it so much that she bought a dozen more copies to give to other people - then invited Mr. Collier to speak to more than 200 donors and advisers at her community fund. The approach Mr. Collier advocates in his book, published by Harvard University and now in its fifth printing, is quickly gaining notice as a tool to help fund raisers bring in large gifts.

Stepfamilies: Who gets the money?

“Stepfamily inheritances are a very complex issue,” says Peter Solomon ’60, MBA ’63. “It’s an ongoing conversation and I don’t have all of the answers.” Solomon, chairman of Peter J. Solomon Company, L. P., an investment banking advisory firm in New York City, has thought deeply about inheritances for the next generation. He has also taken a stand for the principle of equality of distributions made during his lifetime. He makes current gifts to his children, his wife’s children, and all of their grandchildren in equal amounts. In his estate plan, he leaves money to his children and to his wife, both to secure her financial position and to support her charitable giving.

Dealing Effectively with Your Family's Wealth

As Harvard's Senior Philanthropic Adviser, Charles W. Collier has had many opportunities to observe the social and psychological dimensions of financial wealth as it relates to the development and functioning of families. His book, Wealth in Families, recently revised and republished, discusses a number of his observations. In this interview, we asked him to expand on some of the ideas in his book.