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Charitable giving through private foundations, trusts and donor-advised funds has been booming for the past few decades. There are now more than 40,000 private foundations in the United States. And the National Center for Family Philanthropy estimates more than half of the country's family foundations were created in the last 10 years. Lawyers, accountants and financial advisors can best help clients
Patricia M. Angus, president, Angus Advisory Group LLC, New York
Charitable giving through private foundations, trusts and donor-advised funds has been booming for the past few decades. There are now more than 40,000 private foundations in the United States. And the National Center for Family Philanthropy estimates more than half of the country's family foundations were created in the last 10 years. Lawyers, accountants and financial advisors can best help clients in their philanthropic endeavors not only by providing legal and tax advice, but also by assisting new donors with challenges after philanthropic vehicles are in place.
Clients who create charitable vehicles report feeling overwhelmed by learning to manage their philanthropy. The...
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