Ellen Remmer featured in "Charity Strengthens Family" (Honolulu Star Bulletin)

Excerpt from the article:

Families that inherit big bucks will most likely squander their fortune by the third generation unless they work to set aside money for worthy charities.

So says Ellen Remmer, vice president of the Philanthropic Initiative, a nonprofit organization that gives advice on giving.

A charitable approach "strengthens families and brings them closer" as they talk about what they value and decide what their family should stand for in the community, Remmer said.

For instance, a family's "mission statement" could be "All children have a right to a good education." And they can dedicate their funds or skills to making that happen.

Remmer was in town recently to advise the Hawaii Community Foundation, but her recommendations can be applied to foundations that have a little or a lot.

A common misconception is that people make donations to avoid higher taxes, she said. A tax break might affect the amount they give or when they give, but aging "baby boomers going through the last third part of their lives ... want to make a difference," she said, because "the meaning of life becomes important."

"It's also known as brat-proofing the kids" who stand to inherit a lot of money, and their parents are afraid they might "fritter it away," Remmer said.

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