Philanthropists
Your experts
Legacy is no longer just about wealth preservation, with many individuals and families seeing philanthropy as a core part of their legacy. As ESG issues rise to the top of the wealth holder's agenda, many are considering how they can have an impact on the issues that matter to them the most.
Philanthropy and an effective philanthropic strategy that meets the needs of the family and individual is crucial. We provide clients strategic, consultative, philanthropic advice, including structuring and governance, at all stages.
Giving in the UK remains low in comparison to other countries and we recognise more support is needed from firms like ours to support clients in beginning their philanthropic endeavours. Aside from our own knowledge and experience we have a wide network of industry experts and will leverage all of this to support you in beginning and enjoying your giving journey.
The not-for-profit sector, including charities and foundations, rely on the generosity of individuals. While the motivations for giving may be simple, getting it right can be more complex. Some individuals may wish to set up a charitable trust to benefit a number of charitable organisations, whilst others may leave a legacy to a grant-giving favourite charity in a will or create a specific foundation or non-profit to fulfil a specific aim. There is no right or wrong way to undertake philanthropy, it is very much a personal decision but one that should be driven in line with family governance and values.
At Boodle Hatfield, we are experienced in working with clients at all stages of their giving life cycle. Our advice is centred around three pillars:
- Philanthropy strategy: Providing advice and guidance when ideas are being formed to ensure you understand all the options available to you and the impact they may have on your family governance and related family businesses.
- Philanthropy structures: Ensuring your philanthropy and charitable giving is structured in the way that works best for you whilst also making the biggest impact on your chosen issues. Structures that we might consider with you include Donor Advised Funds (DAF), UK or offshore foundations including charitable trusts, or UK non-profit, Community Investment Company (CIC).
- Philanthropy governance: Ensuring best practice governance is put in place to run your philanthropic endeavours successfully, including ensuring you are compliant with the Charity Commission Governance and where practical, you are implementing relevant parts of Corporate Governance as best practice.
Wherever you are in your philanthropic and charitable giving endeavours, the need for specialist advice is paramount. At Boodle Hatfield, we are highly experienced in this area and will work with you to deliver practical and sensible advice to ensure you achieve every one of your altruistic ambitions.
Recommended reading
The number of high net worth individuals (HNWIs) gifting over £1 million to charities upon their death is increased by…
Read more 5 min read 16 May 2024 Asset planning in the digital age – inheritance and divorce considerations for HNWIsIn WealthBriefing, Head of Private Wealth, Hayden Bailey and Associate, Alex Gamble consider the importance of succession planning when individuals have a digital footprint.
Read more 4 min read 08 May 2024 The Lessons in Legacy Podcast: Do we underestimate the impact that divorce, incapacity or death can have on a legacy?In the latest episode of The Lessons in Legacy Podcast, Clare Stirzaker, Hayden Bailey, Katie O’Callaghan and Nicola Bushby discuss a series of topics that can often be underestimated when it comes to planning for the future.
Read more 3 min read 07 May 2024 Boodle Hatfield announces charity partnership with Royal Trinity HospiceCoinciding with Dying Matters Week by Hospice UK, an important awareness campaign regarding preparing for death and considering legacy, we are excited to announce our Charity of the Year. From 1 April 2024, Boodle Hatfield are partnering with the Royal Trinity Hospice, a south west and central London hospice providing specialist palliative and end of life care for people living in Wandsworth and parts of Lambeth, Merton, Westminster, Hammersmith & Fulham, Kensington & Chelsea and Richmond.
Read more