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Abstract: 

A family foundation is often used in an estate planning context as a means of facilitating charitable transfers at death. In this context, should the creator set up a foundation before death, or might this be left to the creator’s heirs and advisors to be done after death? This piece discusses some of the difficulties that can arise in dealing with this situation. The author’s advice: To eliminate delay and avoid possible problems with the IRS, set the foundation up while the creator is still around.

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Affiliations:  1: Havens & Miller.