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Families that set up foundations to carry on their giving traditions are almost always disappointed — or would be if they lived to see the results. However, I have also been personally involved with a number of families over the years that represent the most extraordinary examples of multigenerational philanthropy one could imagine. Generally speaking, the difference between the successful and disappointing outcomes is in a particular type of asset transferred — specifically, a non-monetary legacy that has been systematically imprinted on succeeding generations. Continue reading