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Publication Date: January 2006

Publisher(s): Andrea and Charles Bronfman Philanthropies

Author(s): Sharna Goldseker

Special Collection: Berman Jewish Policy Archive

Topic: Banking and finance (Philanthropy and nonprofit sector)
Economics (Property and wealth)

Keywords: North American Jews; Fundraising/Philanthropy

Type: Report

Abstract:

Analysts of the much-discussed intergenerational wealth transfer predict Baby Boomers will inherit $40 trillion by 2052. Although this seems almost certain, it is uncertain what the next generation will do with all this wealth. Foundations anticipating this transfer are already considering how to incorporate the next generation into their family's philanthropy. They are learning that engaging young adults in current family systems can be challenging. This article offers lessons about the next generation as well as strategies and tactics for integrating them into the foundation. Adopting a multigenerational approach is the first step in the process.