October 2012

Ask a trust officer:

Charitable givers

DEAR TRUST OFFICER: I wonder if you could settle an argument for me? Who gives more to charity, men or women?—BUDDING PHILANTHROPIST

DEAR BUDDING: I’m not entirely sure that I understand the question, or the metrics for an answer. When Bill and Melinda Gates give their wealth to their foundation, who gets credit for the gift? Melinda, if she were the prime mover? Bill because his Microsoft fortune is the source of the money? Both of them equally?

However, I did run across an August 2012 study from the Women’s Philanthropy Institute called “Women Give 2012.” Married couples were excluded from that study; only single heads of household were considered. The study found that women, particularly older women, gave more to charity than men. They are nearly twice as likely to give 3% or more of their permanent income to charity. The result is somewhat surprising, given women’s greater longevity and need to make their retirement resources last.

Does that help?

Do you have a question concerning wealth management or trusts? Send your inquiry to tormey@pgbank.com.

(October 2012)

© 2012 M.A. Co. All rights reserved.

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