The Transforming Power
of a Generous Legacy
By Bill High
I
SEE IT OFTEN in my consulting work with families.
The parents have seen a remarkable degree of financial
success, but their kids are all over the map—some are an
integral part of the family business, while others are strug-
gling with addictions. Some share their parents’ beliefs, but
others have walked away from the faith.
We’re aiming to transfer our faith and worldview to our
kids and grandkids. We’re all trying to figure it out, and the
results aren’t guaranteed!
You might think it would be easier to pass down some-
thing concrete like financial wealth, but even there the
numbers aren’t reassuring. Family fortunes usually are
spent and gone by the second or third generation. Similarly,
for family-owned businesses, the failure rate is 70% in the
second generation and 85% in the third.
Passing down financial wealth can be a curse instead
of a blessing if it’s not accompanied by values that give it
meaning and purpose.
WHAT’S GENEROSITY GOT TO DO WITH IT?
One of the most transformative values I know of is generosi-
ty. True generosity—the kind that spurs sacrificial giving for
others’ good—is one of the best gifts a family can pass on to
the next generation.
When we practice generosity, we live out the fact that
everything we have is a gift from God, our Provider. We
are learning to love through giving, just as we have been
incredibly loved.
When we are generous, we grow in being others-
focused, compassionate, and involved rather than narcissis-
tic, contemptuous, and apathetic.
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While the effects of generosity are absolutely vital in
learning to handle financial wealth properly, I believe that a
generous spirit is also what’s needed in those entrusted with
a wealth of biblical truth. Having a biblical worldview while
being inwardly focused and self-seeking is not only contra-
dictory to the heart of the gospel but also a huge turnoff to
our kids and outside observers.
RAISING A GENERATION OF GIVERS
If we’re convinced that instilling generosity into the next
generation is good and necessary work, how do we raise our
children to be givers?
First, let them experience you being generous to them.
Why is that important? Think about it this way. God is
incredibly generous to us. He gives countless gifts to us
every day, let alone the gift of life forever with Him through
Jesus Christ. It’s because we experience God’s lavish gener-
osity to us that we know what generosity to others looks like.
Our children and grandchildren need to experience our
generosity to them—lots of freely given time, treasure,
attention, and affection. That’s the ideal context for teaching
our children to be generous to others.
LEARN TO GIVE AS A FAMILY
Within that context, here are some ways to practice gener-
osity as a family:
1. Create a family giving fund. A family giving fund
becomes the family foundation, a platform to discuss
your values as a family. It’s easy to set up—like setting
up a bank account, only charitable.
2. Define your family values. Gather your family and
discuss your top five family values and how those