Fifth, I suggest that all the grandchildren and the…
Fifth, I suggest that all the grandchildren and the grandparents form the grants committee. I believe it is important that each grandchild make a grant each year. The process of how the grant is requested and voted on is critical to the learning experience of the grandchild and to the grandparents' ability to mentor the process. I believe that any child age six or older is capable of proposing and advocating a grant request. Obviously the older the grandchild, the more written material regarding the grant recipient should be required. When grandchildren are age ten or older, I also strongly suggest that, as a part of their requests, they make site visits to the proposed grantee or, if this is impossible, interview its director.
— from The Instruments (Awareness/Perception/Expectations) · Family Wealth: Keeping It In the Family: How Family Members and Their Advisers Preserve Hu