Charitable Planning and Family Foundations
Charitable Planning and Family Foundations
Many St. Louis families want their estate plan to reflect charitable values alongside providing for family members. O’Gorman and Sandroni help clients structure charitable giving, from straightforward bequests to more sophisticated charitable trusts and private family foundations, in a way that reflects their philanthropic goals and tax planning objectives.
Charitable Giving Vehicles
Options range from a simple charitable bequest in a will, to charitable remainder and charitable lead trusts that combine philanthropic giving with income or tax benefits during a donor’s lifetime, to donor-advised funds for ongoing flexible giving.
Establishing a Family Foundation
A private family foundation allows a family to direct charitable giving over generations, involve younger family members in philanthropic decision-making, and maintain long-term control over how funds are distributed, though it comes with ongoing administrative and compliance obligations.
Frequently Asked Questions
A charitable remainder trust pays income to a donor or other beneficiary first, with the remainder going to charity, while a charitable lead trust pays income to charity first, with the remainder eventually passing to family members.
Generally yes. A donor-advised fund involves far less administrative burden than a private foundation, though a foundation offers greater long-term control and family involvement in grant-making decisions.
Since 1985 Sean O’Gorman and Andrew Sandroni have been representing clients in all areas of the law. O’Gorman & Sandroni, P.C. was founded in 1989 on the principles of honesty, integrity, and the aggressive pursuit of our client’s goals.