You Choose the Charity

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Mike's Decision

My parents have always been generous when it came to their favorite charities (and the four children in our family), so it should not have been a surprise when my parents informed me they were going to give 20% of their wealth to various charities when they passed.  Their thinking was that charity would be their fifth child.
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Elfrena's Decision

Years ago, I read in the newspaper about foster kids emancipating from the system at age 18 with no support.  For youth who wanted to go to college ... practically impossible.  I was horrified. So I started a college scholarship program for foster youth through our local community foundation.
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Mike's Decision

My parents have always been generous when it came to their favorite charities (and the four children in our family), so it should not have been a surprise when my parents informed me they were going to give 20% of their wealth to various charities when they passed.  Their thinking was that charity would be their fifth child.

When I heard this, I am ashamed to admit that my first thought was “why would a charity get a portion of my inheritance?” … I realize how selfish and ridiculous that was.

After some thought, I began to admire my parents more than ever.  After discussing it with them I found out they wanted to teach us one final important life lesson – that we can make a difference.  Thankfully, I have not had to wait for my parents to die to learn that lesson.  My  parents are directing where half of their charitable dollars go; their children will direct the remaining half.  I do not look forward to the day that my siblings and I get together to decide where those dollars go because it means that my parents will be gone … however, I know it’s something that will bring us together during what is certain to be a rough time in our lives.

I see the good things that charitable dollars can do for local churches, schools, sports organizations, or other good causes.  My wife and I give money and time to several local charities – it is not for the tax deduction (although that does not hurt).  We feel good about ourselves and love to support our chosen causes.  Additionally, as an estate planning attorney, I have learned to be very creative in helping clients with their charitable intent.  I am proud to say I practice what I preach to clients who are charitably inclined.

-- Mike Bennett, Sacramento