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The Contract Means What It Says; Signer Beware!

Christopher P. Woehrle shares lessons learned from a recent Texas case about family settlement agreements.

The planned giving programs of most charities derive the bulk of their revenue from matured bequests. Their finance departments understandably seek a reasonable estimate about timing of payment. Counsel for the donor’s estate usually will cooperate in projecting the availability of the funds. Without exception, counsel asks the charity to sign a Family Settlement Agreement (FSA), sometimes referred to as a “Receipt, Release and Indemnification Agreement,” committing the charity to the return

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TAGS: Philanthropy
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