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More CRT Reformations Approved (Including an Important Lesson for Family Foundations!)  


Author:  Staff Editors.


Source: Volume 09, Number 01, November/December 2009 , pp.14-15(2)




Family Foundation Advisor

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Abstract: 

Three recent private letter rulings continue the well-established pattern of allowing a charitable remainder trust (CRT) to be reformed where the person seeking the change is able to demonstrate that the trust was not drafted in accordance with the drafter’s instructions. One of those demonstrates an important principle that family foundation advisors must always keep in mind when preparing a CRT that will have a foundation as a remainder beneficiary.

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