FAMILY OR PHILANTHROPY: WHAT WILL YOUR LEGACY PRIORITISE?

Balancing Legacy: Should You Prioritise Family or Philanthropy in Your Estate Plan?

When it comes to legacy planning, one of the most profound questions wealthy individuals face is: Should I leave my wealth to my family—or to a cause that reflects my values?

This question has gained prominence in recent years, especially among India’s ultra-affluent families. With rising awareness about social impact and intergenerational financial stewardship, estate planning today is not just about distributing assets—it’s about aligning them with personal purpose and legacy.

At Broadwings Family Office, we often work closely with clients to help navigate this complex decision, combining emotional clarity with financial prudence.

🌱 Understanding the Bigger Picture

The recent resurgence in philanthropic commitments from business leaders globally—and here in India—has sparked a growing debate on what it means to leave behind more than money.

It is no longer uncommon to see founders and first-generation entrepreneurs pledge significant portions of their wealth to charitable causes, while still securing their family’s financial future. But how does one strike the right balance?

👪 Leaving Assets for the Family

Traditionally, estate plans have focused on transferring wealth to children and future generations. Done right, this ensures continuity of lifestyle, funding of long-term aspirations, and preservation of family capital.

At Broadwings, we help families:

• Structure succession and trust vehicles for secure, tax-efficient inheritance
• Create governance frameworks to avoid disputes and support responsible wealth stewardship
• Ensure financial preparedness across multiple generations through education and advisory

But it’s important to assess: Are you providing for your family’s needs—or their wants? Sometimes, the marginal impact of an inheritance on the family’s quality of life is limited—while that same capital can be transformative when directed to a cause.

🤝 Creating Impact Through Charity

Philanthropy, when structured intentionally, can be a powerful expression of values, purpose, and legacy.

We support families in:

• Establishing family foundations, charitable trusts, or donor-advised funds
• Identifying causes that align with personal experiences or family values
• Designing impact-focused investment frameworks with transparency and governance
• Measuring long-term social return alongside financial outcomes

Often, the right question is not whether to give—but how much and how soon.

🔍 How to Make the Right Choice for Your Legacy

Whether you lean toward charity, family, or both—here are a few questions to guide your estate planning decision:

1. What are your family’s true financial needs?
   Consider obligations like education, healthcare, or entrepreneurship support—versus discretionary lifestyle upgrades.
2. What values do you want to pass on?
   Sometimes, the legacy you leave is not in the money itself—but the values your children inherit by watching how you use your wealth.
3. Would your contribution make a meaningful difference?
   In philanthropy, even a relatively small allocation can create significant change—especially in areas like education, healthcare, or sustainability.
4. Is there a cause that resonates deeply with your life journey?
   Life experiences often shape charitable choices. Whether it’s healthcare, arts, environment, or education—supporting a personal cause can make your wealth purposeful.

💡 At Broadwings, We Believe in 'And', Not 'Or'

It doesn’t always have to be a binary choice. With the right structure, families can support both causes and kin:

• Allocate wealth into purpose-defined trusts that serve charitable and family objectives
• Create tiered inheritance models based on life stages and goals
• Use tools like testamentary charitable bequests, life interest trusts, or blended foundations

🧭 Conclusion: Purpose, Planning, and Perspective

At Broadwings Family Office, our approach to estate and legacy planning integrates your personal convictions with strategic financial frameworks. We understand that your wealth is more than just an asset—it’s an opportunity to shape the future for those you love, and the world you care about.

Whether your vision is to secure your lineage, inspire a culture of giving, or do both—we're here to help you build a legacy that outlives generations.

Let’s talk about how you can create a meaningful estate plan that reflects both your heart and your heritage.