Skip navigation

Family Foundations Forever or Not

When establishing a new private foundation, one of the toughest questions the founders should answer is, Who will run the foundation after we're gone? Perhaps because it's a difficult question, some founders decide to defer the answer sometimes indefinitely. As a result, their foundations include generic successor provisions that satisfy state law and Internal Revenue Service requirements, but may

When establishing a new private foundation, one of the toughest questions the founders should answer is, “Who will run the foundation after we're gone?” Perhaps because it's a difficult question, some founders decide to defer the answer — sometimes indefinitely. As a result, their foundations include generic successor provisions that satisfy state law and Internal Revenue Service requirements, but may not serve the foundation well in the long run.

ARTICLE ACCESS REQUIRED

Please Log in if you are currently a Trust&Estates subscriber, or select DAYPASS for our new 24 hour access (nominal fee required).


If you are interested in unlimited article access for one year, please select Annual Subscription below.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish