Estate planning and probate services

Family foundation counseling

Overview

A family foundation can offer many potential estate planning and tax benefits. However, there can be substantial penalties if a foundation doesn’t comply with the cumbersome tax rules and legal issues. We work closely with many high net worth families to create plans that make the most sense personally and philanthropically.

Some of the issues we can help you consider, understand and resolve include:
  • Estate tax minimization
  • Minimization of capital gains tax on the sale of appreciated property
  • Employment for family members
  • Preserving your family name
  • Distribution requirements
  • Strategies to maximize charitable income tax deductions
  • Combining Private Family Foundations with Charitable Remainder and Charitable Lead Trusts
  • Administrative requirements
  • Duties of directors
  • Procedures for awarding grants
  • Succession planning-- Is the foundation perpetual or does it have a "limited life"?
  • Overall best practices

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