AFI Associates said the award would be presented at a luncheon on Oct. 1 in Beverly Hills, Calif.
Plans call for most surviving members of the family to attend -- including Oscar-winning actor-director Sean Penn and his wife, actress-producer Robin Wright Penn. Organizers said other family members planning to attend include actress Eileen Ryan Penn; singer-songwriter-composer Michael Penn and his wife, Oscar-nominated singer-songwriter-composer Aimee Mann; and actor Chris Penn.
The event will also feature a tribute to the late filmmaker Leo Penn -- who was the family patriarch until his death in 1998 of cancer. Leo Penn was best known as the director of dozens of hits TV shows -- including "Diagnosis Murder," "Matlock" and "Columbo."
Notable deaths of 2014 [PHOTOS]