When people hear the term "gifting," they typically think of giving to a charity or perhaps giving money to a child or grandchild. For those in a position to give, the idea of enjoying and seeing the benefits of the gift by creating long-lasting memories and family traditions may be more meaningful.
For many of our clients who feel they are financially stable and thus have the ability to do other things with their wealth outside of paying the bills, the thought of taking vacations or experiencing something new is of interest to them and something they want to explore. Add to this the idea of having their children and grandchildren join them on a vacation for a family getaway. The thought of experiencing something new becomes even more intriguing. As we all know life goes by much too fast, kids grow up to be adults before you know it and they begin having families of their own. Many clients can relate to spending time with family and creating memories that last a lifetime.
As a child, my family would take me to Cape Cod every Summer, and for as long as I can remember, that was our family Summer vacation. Taking my children to Cape Cod is more meaningful now as I am able to talk to them about my experience while at the same time creating their own. Having ice cream at Sundae School and going to a Cape Cod League baseball game is a shared memory now.
The thought of passing wealth along to the next generation was that when you passed, you would leave a legacy in terms of money, house, etc., to your next generation. But what about giving with the thought that as a parent or grandparent, you could be part of the experience by taking your family on a trip somewhere with something for those of all ages or a specific trip to learn more about your family history and ancestors. It could also be something that just allows you to spend more time with those that you love and allow them to get away from their daily lives, if only for a week or two.