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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Estate Planning

Date & Time
  • event Date

    Thursday, July 10, 2025

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    90 minutes

Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

$297.00

This course is $0 with these passes:

CLE
ALL

This CLE/CPE webinar will provide estate planners with a thorough and practical guide to structuring private foundations as a component of an integrated estate plan. The panel will describe the federal income tax treatment of private foundations, detail operational requirements for maintaining a foundation, and discuss both inter vivos and post-mortem strategies for using a private foundation.

Faculty

Cara Howe Santoro
Partner
Holland & Knight LLP

Ms. Santoro focuses her practice on advising businesses, nonprofit organizations, and individuals on a variety of domestic and international tax matters, and counseling nonprofit entities on issues related to their tax-exempt status, including formation, governance, compliance, restructuring, lobbying, international grant making and unrelated income. She also assists corporations in various tax matters including executive compensation, qualified benefit plans, regulatory compliance and tax planning in both the individual and corporate context.

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Stefania L. Bartlett
Principal
CliftonLarsonAllen

Ms. Bartlett specializes in trusts and estates, providing planning and compliance services related to fiduciary income tax, estate tax and gift tax. She also advises clients on charitable gift planning, charitable contributions and tax compliance. Ms. Bartlett is a licensed attorney and is admitted to practice in Connecticut, New York and the United States Tax Court.

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Description

Estate planners and advisers TURN to private foundations as a legacy tool for charitably minded clients. The increased control over distributions and enhanced income and transfer tax advantages make private foundations an ideal estate planning vehicle.

Setting up a private foundation involves creating a separate exempt organization and contributing assets to the foundation. Once established, contributions to the foundation remove the assets' value from the donor's gross estate and qualify for a current-year charitable deduction.

For some assets, particularly IRAs and other retirement accounts and those that generate income for a decedent, the tax impact is significantly reduced compared to assets passed through a will or trust.

Operating a private foundation does not lack burden or risk: the entity must file an annual Form 990-PF return. The foundation may be subject to excise tax on unrelated business taxable income.

Additionally, there are rules against "prohibited transactions" and "self-dealing" with related persons. However, structured correctly, a private foundation may pay compensation--even to family members of the donor--so long as the compensation is "reasonable."

Listen as our experienced panel provides a thorough and practical guide to the operations, benefits, and potential risks of using private foundations as estate planning tools. The panel will offer techniques in managing private foundations.

Outline

  1. Income and transfer tax benefits and treatment of contributed property
  2. Ideal assets to contribute and not contribute to a private foundation
  3. Establishing a private foundation
  4. Reporting requirements, operational risks, and opportunities

Benefits

The panel will review these and other key issues:


  • Which asset transfers provide the most income and transfer tax benefits when gifted to a private foundation?
  • What are the tax treatment differences between private foundations and donor advised funds?
  • Scenarios for post-mortem planning using private foundations to lessen the impact of income in respect of a decedent
  • What are the operational challenges for a private foundation?