Here's what you don't want to happen if you're worth big money, care deeply about philanthropy, and die earlier than expected: Your kid takes over the family foundation and royally screws things up, wasting your money on stupid stuff. Or worse, directs the bulk of your fortune away from philanthropy altogether.
Here's what you do want to happen if you don't have time to set everything up just right: Your PhD daughter, with long involvement in your giving and nonprofit causes, steps up and carefully builds a professional grantmaking operation, focusing your money toward clearly defined niches where it can make a difference, and hiring top-flight talent to help.
The entrepreneur Kenneth Rainin died in 2007 at the age of 68. And since than, his daughter, Jennifer Rainin, has been building up the Kenneth Rainin Foundation. Both the foundation and its president are now really hitting their stride.
Read our new profile of Jennifer Rainin here.
Read how the Rainin Foundation has been stepping up its game here.
And read our profile of the foundation's Bay Area giving here.
It's all good stuff. Jennifer and her people know what they're doing.