Passing Down the Foundation

Some wealth owners set up charitable foundations to keep their families together after mom and dad die. But too often these entities exacerbate or even create divisions within the family. Also, family members can have conflicting visions of the foundation's role. Ask clients to think twice before establishing a family foundation solely for the purpose of family unity. If a family decides to proceed,

Some wealth owners set up charitable foundations to keep their families together after mom and dad die. But too often these entities exacerbate or even create divisions within the family. Also, family members can have conflicting visions of the foundation's role. Ask clients to think twice before establishing a family foundation solely for the purpose of family unity. If a family decides to proceed, here's how to help them avoid some pitfalls — particularly when it's time for the next generat

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