Creating a family mission statement
Published: June 24, 2014 by Kim Minton, VP of Development
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United behind a shared set of goals can help strengthen a family’s values and bring multiple generations together. Here are eight steps you can take toward drafting a family statement.
Some families look for ways to ensure that future generations will inherit values along with money, or they may seek to build a philanthropic legacy. A family mission statement can provide foundational concepts that help clarify many decisions down the line. For example, it can begin to outline the way your family wants its money to be used – whether for education, entrepreneurship or philanthropy. Every family can benefit from a mission statement, regardless of level of wealth.
- Involve everyone. Ideally, the entire family should have a hand in developing the mission statement.
- Define your values. Ask each family member: “What would you like this family to stand for?”
- Think ahead. Consider your family’s long-term goals. What kind of legacy do you want to leave?
- Keep it focused. Ultimately, you are looking to create a statement general enough to be timeless, yet specific enough to apply to real-life issues.
- Check your authenticity. Don’t craft a statement because it sounds nice – it should reflect values you are currently living and striving for.
- Keep it front and center. In other words, “post it on the refrigerator.”
- Put it into action. “Use it or lose it” applies here – don’t let it sit on a shelf.
- Revisit and revise annually. Things change and so do families – children grow up, get married and priorities change.
For more information on starting a family fund or family legacy with JCCF, please contact Kim Minton, vice president of development, by email or at 317-738-2213.
