how do you set up a foundation? Like all the rich people do.

mamaisis · #1 Jun 21, 2007, 01:00 PM

I want to know how to begin a foundation to transfer assets to , don't you first need a non-profit organization to fundraise, or that is somehow connected? Can you then set up a trust fund from there? any lawyers in tha house?!

ebaines · Jun 21, 2007, 02:51 PM

For individuals with modest estates, perhaps the easiest way to do this is to set up a donor-advised charitable fund at an investment house like Fidelity, Schwab, etc. See for example: You can be your own charitable foundation - MSN Money

You can also set up a private foundation through several brokerage houses. See for example: https://www.fidelityprivatefoundatio...etstarted.html

There is no rule that a foundation must fund raise. Hope this helps.



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