Building a Solid (Private) FoundationBuilding a Solid (Private) Foundation
Will a New Hampshire law start a new trend in estate planning?
It’s now possible to establish here in the United States, a non-charitable private foundation (NCPF), an entity that was heretofore reserved for select jurisdictions outside the United States. At the moment, however, you may only establish such an entity in one state, New Hampshire, which, in mid-2017, adopted the country’s first NCPF law.1 Is this a small step for a state and a giant leap for U.S. estate planning? Or, is it merely an awkward attempt to go where no state has gone before?
When you think about it, here in the United States, we have only one basic vehicle for estate planning—the trust. Sure, we have limited liability companies, corporations and the like, but they don’t provide anywhere near the opportunities for the same l...
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