Charitable Planning

Charitable giving can play a vital role in the lives of wealthy families. It can help unite families across generations, geography and individual differences, as well as provide deep personal satisfaction.

Families, individuals and charitable foundations rely on Hemenway Trust Company for a full range of philanthropic advisory services. Together with Hemenway & Barnes LLP, we help our clients identify goals, create a giving strategy, and effectively implement their plan in accordance with established guidelines and regulations.

There are many strategies and vehicles that enable giving. For example, you can:

  • Make gifts during your lifetime or at your death
  • Make gifts outright or through a trust
  • Name a charity as a beneficiary in your will, life insurance policy or retirement plan.

If your gift is substantial, you may want to create a private foundation or donor-advised fund.  The vehicles are as varied as your goals.  

Services

Here is a closer look at the ways Hemenway Trust Company helps clients on matters of charitable giving:

Planning

  • Conduct needs assessment and develop a philanthropic strategy
  • Identify appropriate structure(s) for giving, such as private foundations, charitable trusts, donor-advised fund, pooled giving and individual gifts
  • Address foundation governance issues, roles and responsibilities of directors and trustees
  • Create continuity plan for family philanthropy
  • Coordinate charitable giving with socially responsible investment of funds and other activities that promote client's philanthropic goals
  • Provide related guidance regarding board service and volunteer activities for individuals and families.

Program Development

  • Identify client's areas of interest
  • Develop programs consistent with goals and interests
  • Analyze trends and make recommendations
  • Develop marketing communications.

Implementation

  • Review, evaluate, and manage grant applications
  • Administer grant process
  • Plan and facilitate meetings and site visits
  • Negotiate and draft gift agreements for all asset classes
  • Provide administrative support
  • Prepare materials for trustees and donors. 

In addition to broad knowledge about philanthropy, our advisors are experts in areas such as education, the arts, the environment and health and welfare.