If you “inherit” a Charitable Foundation from your parents, is that just as good as inheriting the cash? Can you do anything through the Foundation?

Question

Many people seem to believe that “inheriting” e.g. The Gates Foundation is just as profitable as inheriting tens of billions in cash. My gut tells me that charitable law must be more complicated than that. What’s the truth?

In: 377

Answer 1

It depends on how the organization is structured And what rules the trustees have to abide by.

for example the governing documents may say: this charity will only help Left Handed people born in March.

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so if you were born on April 1st, you’re SOL.