Estate Planning: The tax benefits around setting up a family foundation

Wealth-Building Made Simple · Jul 20, 2023 · 9m

Summary: Alison and Phillip discuss the tax benefits of setting up a family foundation. They explain that a family foundation is a philanthropic organization designed to serve the community and can be a great estate planning tool. However, they note that setting up a foundation requires significant assets and comes with high administrative fees. They also mention alternatives such as donor-advised funds, which offer more flexibility and privacy. Overall, they highlight the importance of consulting with a qualified financial advisor or tax professional before making any decisions. Timestamp…