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Foundations aren't too great; although you can maybe give a couple administrative jobs to your relations, ultimately the bulk of money still has to go to nonpro
by scarmig 3y ago
Foundations aren't too great; although you can maybe give a couple administrative jobs to your relations, ultimately the bulk of money still has to go to nonprofits, and a foundation faces additional taxes and administrative fees that e.g. a donor advised fund doesn't.
- snapplebobapple 3y agoMaybe you just haven't found the right country to house your foundation for tax purposes? Charitable foundations in Canada seem to be a pretty decent deal. You end up having to use 5% of the assets each year for charity but that can include an awful lot of management expense and the charitable giving doesn't have to be to other charities. You end up paying a lot less than you would have had you exposed yourself to more taxation owning the assets in your name, plus you avoid inheritance taxation while still being able to stream income to your offspring through cushy foundation jobs pretty much perpetually.