Following the rules of the road will keep your client’s PF running smoothly and efficiently.
Operating or “driving” a private foundation (PF) is actually easier than many naysayers would have you believe. While donor-advised funds (DAFs) may be the sportier charitable vehicle, PFs are a viable alternative and offer distinct advantages for certain drivers.
As a responsible operator of a PF, your client will want to comply with the rules of the charitable road. Following the rules of the road will keep your client’s PF running smoothly and efficiently. Avoiding the attention of the Internal Revenue Service traffic cop is usually an unstated goal of all drivers.
This gallery is adapted from the authors’ original article in the February 2019 issue of Trusts & Estates.
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