The ability to make a difference in people’s lives through one’s own private foundation is typically considered a defining mark of achievement. However, it can also make a profound difference in your own life and that of your family. It exerts a unifying force, similar to a family business, by providing a formal structure linking together several generations working toward a common philanthropic goal. By providing a reason to meet and converse, it becomes the glue that holds together family members who are geographically dispersed. And, if the foundation is set up in perpetuity, it transmits the family value system, preserving the memory and interests of the founder to subsequent generations.