| |
 |
Back to . . . |
|
|
|
|
|
Establishing a Private Family Foundation becomes a part of estate planning discussions, particularly with larger family estates. While at one time it may have been an interesting consideration, new disclosure regulations on Private Foundations have made their establishment and maintenance more complex.
The strict IRS rules and regulations now related to Private Foundations make them very costly to families. In addition, there is a rule that all donations by private foundations be made available to the public.
Barnabas Foundation provides an alternative to the Private Family Foundation through its
Stewards Fund. This fund enables families to accomplish the goals they had for their Private Family Foundation with additional advantages.
A family choosing to use the Stewards Fund instead of establishing a family foundation, will receive the following benefits:
- No set-up fee
- None of the disclosure requirements
- Fair Market Value deductions for closely held stock and real estate
- No annual tax returns to file
- No self-dealing rules and regulations
- No minimum distribution requirements
- Avoids annual legal and accounting cost
With a Stewards Fund account rather than a Private Family Foundation, the family has none of the work and all of the joy of giving at a very low cost.
For more information on how a Stewards Fund might be helpful in your situation, contact Barnabas Foundation.
|
|
|
|
|
Need Direction For Your Plan? |
|
|
|
|
We can help.
Phone: 888.448.3040
Fax: 708.532.1217
or
e-mail us
|
|
|
|
|
|
|
|
Printing a copy? |
|
|
|
|
|