Barbara was not surprised that she had reached a point where she felt it was time to give something back. The big surprise was how much she was ready to give of herself. Barbara considered herself a very fortunate woman. The success of her consulting firm placed her company at the top of the list for outsourced management expertise, and there was every indication it would remain there for some time. With significant resources and a desire to contribute to a meaningful cause, Barbara approached us with the idea of setting up a Charitable Remainder Trust, or CRT.

"I want to give back in a way that really makes a difference in people's lives."

Contributing to a worthy cause is one of the most rewarding gifts one can make. “But why set up a CRT?” we wondered.

“Why not?” Barbara responded. “A friend of mine set one up. He said it was a great way to avoid estate and capital gains taxes, and a good strategy for reducing income taxes, too.”

So we asked Barbara another question — one we find ourselves asking our clients whenever they start talking about money before they’ve fully examined what they really want to accomplish.

“What do you want to do with the money?”

“I want to help,” Barbara replied. “I want to give back in a way that makes a real difference in people’s lives.”

That’s what we needed to understand. There was clearly more to Barbara’s desire to give than just setting up an irrevocable trust to protect her assets.

As it turns out, Barbara already sat on the boards of several non-profits, and the inefficiencies she observed in their management frustrated her more and more. After talking with her at length, we realized Barbara’s greatest satisfac-tion in giving would come from giving more of herself. Particularly in having the freedom to apply her knowledge and experience in exactly the manner she desired.

Guided by this insight, we helped Barbara establish her own student scholarship fund to support the academic goals of single, working mothers struggling to afford college — a cause that was meaningful to her because it was reminiscent of a major challenge she had faced in her own life.

Through this vehicle, Barbara has been able to achieve a more direct relationship with the beneficiaries of the scholarships she awards, enabling her to impact their lives in a more personal way, as both a mentor and a friend. And because Barbara is able to apply her management skills by actually directing the operations of the scholarship program, she gains the satisfaction of knowing her money is not only being used well, but efficiently.

Giving of one’s time and resources is a great thing to do. But there are more ways to achieve this than people realize.

The best way to begin is not only by understanding what you want to give to others, but how much you want to give of yourself.

As Barbara’s story shows, the best way to begin is not only by understanding what it is you want to give to others, but how much you would like to give of yourself. It’s amazing how much good you can really do when you’re open to exploring this question.

Under Barbara’s direction, her scholarship program for single mothers continues to grow. It has begun to attract attention from other non-profits with whom Barbara graciously shares her innovative ideas on structuring and managing philanthropic enterprises.

For us, helping our clients through positive life changes that benefit others as well is extremely gratifying. Which is why we’re always ready to help our clients fulfill their philanthropic aspirations in ways that continue to enrich their lives.