Trusts & Estates Law/charitable trust

Advertisement


Question
I have a charitable activity with children that some key supporters like very much.  I want to formalize and replicate my activity. My assumption is that an irrevocable trust, 3rd party trustee and specifics on payment controls as categorized expense quotas & direct payment request/processing instructions would allow me to focus on our core activities and more easily control & assure monies are spent as planned (both for me & supporter).

Is my assumption correct?  After some searches the companies that I found that provide assistance with trusts are quite ample but I haven't run across any that specify they offer this kind of service.  I even called a few and conversations weren't too productive to make a long story short.

Answer
Most charities incorporate and use this process. Then run the charitable activity as a non-profit corporation from there. I prefer to recommend Wyoming or Nevada corporation for this activity. You can find out all this information by looking up the Secretary of State's website and finding out how to do this. This would be much better in your activities than going down the path of trust area.  

Trusts & Estates Law

All Answers


Answers by Expert:


Ask Experts

Volunteer


Dr. Joseph de Beauchamp

Expertise

I am an MBA professor and have published in this area. I am able to help individuals and companies in the transfer process.

Experience


Past/Present Clients
2000 public companies

©2016 About.com. All rights reserved.