Stretching Family Control Over Charitable Interests

A Private Foundation Is the Key

[callout]When a private foundation is established alongside either a CRT or CLT, the donor and the donor’s family can receive all the usual benefits of these trusts while retaining the family’s charitable control—potentially forever.[/callout]

Many families have either a charitable remainder trust (CRT) or a charitable lead trust (CLT). Although these charitable vehicles offer significant advantages, providing tax savings and distributions back to the family while benefitting charities, they do have one inherent drawback: They cannot carry out a family’s charitable intentions beyond their limited terms.

However, when a private foundation is established alongside either a CRT or CLT, the donor and the donor’s family can receive all the usual benefits of these trusts while retaining the family’s charitable control—potentially forever.

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