Family Foundation
Donor Advised Fund Family Foundation
What is a Donor Advised Fund? A Donor Advised Fund (or “DAF”) is the quickest, easiest, and most cost effective way for anyone to establish a charitable Family Foundation. Among other benefits, it enables families to focus on the fun and meaningful activities (charitable giving), and outsource the tedious issues (accounting, IRS compliance, tax reporting,…
Read MoreDon’t Create a Nasty Trust Fund Baby
The Danger of the “Trust Fund Baby” I was interviewed about the trust fund baby problem by SuccessCouncil.com after my presentation at FreedomFest (2015). Success Council was interested in getting some practical advice on how to help children inherit wealth without harming themselves, their family and their community. They had a camera on hand and recorded…
Read MoreQualified Charitable Distributions Win Win
Qualified Charitable Distributions from IRA accounts are a win-win. Go ahead. Make that charitable gift in a way that maximizes the amount going to charity and minimizes the amount going to taxes for the politicians to play with. Who do you trust more to do good things with your money, your favorite charity or the politicians?
Read MoreTax Free IRA
For years, I have been telling people a little known secret of IRA’s. There is a way you can pass the benefit of your IRA to your heirs tax free. Recently Bob Carlson in his newsletter recently discussed the strategy. It combines an IRA with a Donor Advised Fund. He quotes David Phillips and calls it…
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