HOW CAN A LAWYER ASSIST ME IN SETTING UP A PRIVATE FOUNDATION?

Video Transcription:

Typically you need legal advice in setting up a foundation. There’s really two elements to it. First is to create an entity. Most foundations are corporations, or you can operate a foundation through a trust as well. But whether it’s a corporation or a trust, that needs to be established under state law. Then, part two is applying to the IRS for qualification. And again, anybody can fill out IRS forms, but when you start to do it, you find it is a very long, complex form. And typically, we get questions from the IRS after the form has filed, and so it’d be possible to do it on your own, but be prepared for significant frustration. Have more questions? Then contact us today to schedule a free consultation! Doane & Doane – Top rated Tax & Estate Planning Attorneys