There are multiple options in terms of the vehicle or structure used for giving. The choice made will depend on a number of considerations. The key thing is to get proper tax and legal advice so that the tax obligations are clear and there is a shared understanding of the limits placed on the philanthropist by the various legal structures.
Also, some banks and other professionals provide good, bespoke advice on structuring philanthropic giving.
Are you creating an operating foundation, purely grant making, or a mix of both? Are you donating to new or existing organizations? Essentially, the question here is – who will you support?Read More