Think Before You Give

An ambitious program of gift-giving is not for everyone. If parting with assets makes you feel vulnerable, fearful that you will someday be without money you need, don't do it. Or you may decide that your children or grandchildren are not ready yet to appreciate your generosity. But helping a 21-year-old get an education, or the head of a new family buy a house, can give you great satisfaction.

One reason that planned gift-giving has gained in popularity is that people live so much longer than they used to. If you wait until you die to transfer your wealth, the recipients -- for most people, their children -- may be nearing old age themselves. Your financial help will probably be more useful when they are younger.