Making the Transition Out of a Private Foundation
Many people who set up private foundations hope that they will continue for generations. Yet a variety of factors conspire against that, ranging from the death of the original founder to a desire for greater privacy in charitable affairs. A popular solution is to dissolve the foundation and distribute its assets to a public charity, such as one offering a donor-advised fund. Advisors to high-net-worth individuals need at least a working knowledge of the issues involved in shutting down these entities, and should be able to recommend other charitable tools to their clients.
Read more about this issue in an article by Deborah L. Jacobs that is based on an interview with David Scott Sloan, leader of Holland & Knight's Estate Planning and Administration Group. Copyright 2008 Smart Giving Strategies, Inc. All rights reserved.