On December 1, 2015 (October 20, 2015 in the lunar calendar), Zuckerberg donated naked. Facebook founder Zuckerberg Facebook founder Mark Zuckerberg announced in a public email to his daughter on December 1, 2015 that he would donate $45 billion worth of Facebook shares he held for charity. As soon as the news came out, some people liked and some people exclaimed, but many people also issued teleological assumptions such as "tax avoidance methods for rich people." In addition to understanding the true purpose of his donation, Wu Fei, associate professor of finance at the Shanghai Institute of Advanced Finance, gave people a new understanding of Zuckerberg's letters and donations from the perspective of rich people's estate planning. The economic significance of "legacy" In the 2200-word letter, Zuckerberg talked about his views on health care, technology, education, crime and many other things. "Like other parents, we want you to grow up in a better world than today." Zuckerberg said,"We want to do our part, not only because we love you, but also because we have a moral responsibility to all children in the next generation." The letter is somewhat like an ethical will, setting out Zuckerberg's values and expectations to pass on those beliefs to his daughter in a legacy. Traditional wills can help a person express what they want their loved ones to inherit, while moral wills can express what they want their loved ones to know. In a letter to his daughter, Zuckerberg shared his vision (values) with his daughter and left her a charitable legacy: donations to charities or causes to help people in need or improve a situation. In Wu Fei's opinion,"legacy" may not be an appropriate word for 31-year-old Zuckerberg. The English dictionary's definition of inheritance includes two parts: first, property given according to a will, especially private property (such as money). 2. Various things passed down by ancestors or ancestors. In the eyes of most people,"heritage" only has economic meaning and refers to valuables, souvenirs or wealth left to future generations. However,"heritage" also refers to people's moral wills, which condense the essence, values, morality and beliefs of life, enough to be passed on to future generations. It also includes "charitable heritage", with the mission of a better world, influencing, developing and promoting various causes, charities, and human well-being. Therefore, Wu Fei emphasized that "charity is one of the ways to realize heritage." The English word "philanthropy" consists of the two Greek words philos and anthropos, which means "love for mankind." Charity is attractive to wealthy people and wealthy families because it is one of the ways to realize their ideals and repay society. One family may be more unique than others by implementing charitable programs. The family thus gained another identity-what it was, not just what it did. Wealth owners may therefore view charity as a personal or family mission. According to sociological research, giving has one of the most direct benefits: it makes people feel happy. Another benefit of charitable giving is that it can influence the way people around you and family members view wealth, poverty, and social problems around you and around you and the world. Rich people can use charity activities as a learning and training tool and experience for the next generation to strengthen their education in wealth responsibility and leadership skills. In addition, from the perspective of family estate planning and tax planning, charitable gifts can receive tax benefits, thereby helping the family achieve other goals. A 2008 survey of ultra-high net-worth individuals (UHNWI) conducted by the GenSpring Family Office in the United States found that 84% of respondents believed that the rich had the responsibility to give back to society, and 67% of respondents regarded charity as the primary beneficiary of their wealth. Other beneficiaries include relatives and churches. Research shows that most respondents believe that the reason for donating lies in social responsibility. Most respondents do not believe that they will be remembered by the public for their charitable actions, but agree that the importance of charitable actions lies in the legacy they leave to their families. Other reasons for donating include: improving family cohesion, expectations within the family and demonstrating public leadership. Wu Fei further explained that in the United States, common charitable gifts use various methods such as private foundations, retained lifelong real estate rights, full gifts, and charity-oriented trusts. The various forms of tax incentives also vary. If Zuckerberg established a charitable foundation, then the foundation would operate independently in accordance with the foundation's charter, and its purpose of survival would be charity rather than inheritance of wealth. If it exists in the form of a family charitable trust, Zuckerberg's daughter will receive tax benefits when she inherits wealth from her inheritance. No matter what form it takes, wealthy families can achieve their predetermined charitable goals. So, what role does the family office play in family inheritance and charity activities? In Wu Fei's view, a wealthy family may have both a charitable foundation and a family office, both of which are aimed at fulfilling the family's charitable mission. Generally speaking, family offices can help wealthy families achieve charitable goals and manage family foundations. Family offices can help family foundations identify the core of their strategies to ensure the effectiveness and impact of their gifts. If the family has multiple branches or multiple charitable plans, the effectiveness of the family office will be more prominent. Wu Fei pointed out,"The family office's effective support for charitable activities is mainly reflected in its certain characteristics." First, the family office participates in the formulation and summary of the family's vision and values to ensure that current charitable activities are in line with the true intentions of the donors. Second, family office employees have the skills to manage projects and can help the family formulate and implement charitable plans. Cooperation between the two functions can generate economies of scale and provide more services at a lower cost. In addition, the family office has the function of mentoring the younger generation of the family and cultivating young members into leaders of charitable foundations. Overall, the family office supports the family's charitable giving within the family's predetermined governance framework to promote the development of family heritage and leadership. The Family Office Exchange estimated in 2012 that 95% of the organization's network of more than 300 family offices support their families 'foundations and charitable giving activities. But just as the family offices of different families have their own characteristics, different family offices also adopt different methods or operations when serving the charitable plans of wealthy families.