Supporting organizations: a good alternative to private foundations

Article Abstract:

Supporting organizations as defined under IRC section 509 provide greater flexibility and fewer tax restrictions than private foundations. Supporting organizations are treated like public charities because they are by definition linked to established public charities. As public charities, they are not subject to the deductibility limitations, basis rules and excise taxes that private foundations are. The regulations under section 509 that supporting organizations must satisfy are complex, but most purposes for using a private foundation are better served by the use of supporting organizations.

Taxation, Charities

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Designing private foundations - avoid the cookie-cutter approach

Article Abstract:

Private foundations are flexible charitable gifting vehicles which have structural advantages over other forms of gifting. Donor advised funds, popular for use with community foundations, have tax benefits but have more limits on donor and family power to control decisionmaking. Private foundations can be specially structured to fulfill donor wishes and allow for family involvement. Structural variations are possible which range from simple to complex. One such variation is a hybrid corporate-trust structure which is particularly useful for perpetuity purposes.

United States, Estate Planning, Usage

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Planning to preserve the advantages of community property

Article Abstract:

Estate planners in common law states should integrate investigations of potential community property interests into their procedures for clients that have lived as a married couple in a community property state. Proper detection of community property interests can ensure that tax advantages such as the double step-up in basis at the death of the first spouse can be retained. The laws of the nine community property states are not uniform, so investigation may include researching particular state statutes.

Planning, Community property, states

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