Charitable Private Foundations in Oakland County

Oakland County Estate Planning Attorney

If helping others is part of your legacy, it may be beneficial to create a charitable private foundation. A charitable private foundation is nonprofit organization that that serves the public good by providing grants to other organizations. This type of organization is not part of the government, but is a 501(c)(3) tax-exempt organization under the Internal Revenue Service Code. It differs from a public charity because public charities usually receive grants and use the grants to help others directly.

The Benefits of a Charitable Private Foundation

Charitable private foundations offer a wide variety of benefits, including control, flexibility and provide your family with a project to work on together. Many people create charitable private foundations to bring their families together to serve a common cause. This type of organization enables trustees or directors to manage the principal fund, which allows a family or individual to provide grants to causes of their choice. Additionally, this organization is flexible and lets you donate when you would like to, which allows you to provide funds for natural disasters and other unexpected needs that arise. A charitable private foundation can help you qualify for a tax deduction when you transfer funds to the foundation. If you are interested in creating a charitable private foundation, our Oakland County estate planning attorney can walk you through the process of setting up a charity and advise you on how to make sure it continues to grow.

Expertise Where & When You Need It

If you are interested in creating a private foundation as part of a comprehensive estate plan, it is important to obtain qualified legal counsel. With more than 20 years of experience, The Law Offices of Stuart Lee Sherman, PC is well-equipped to assist you in creating a charity to benefit others and bring your family closer together. Attorney Stuart Lee Sherman holds his bachelor's degree in accounting, a Juris Doctorate, and his LL.M. in taxation. He is well trained and fully understands economic and legal matters. In addition to having served as the mayor of the city of Birmingham, Michigan, as well as serving on numerous non-profit boards, Mr. Sherman was selected for inclusion in Michigan Super Lawyers® Edition of 2006, an honor bestowed on no more than 5% of attorneys in the state.

We assess clients' problems, explore all possible options, and then determine the best course of action for their unique situation. We pride ourselves on our client-centered approach, and you can rest assured that we will provide you with the attention you deserve. Complete a free case evaluation to learn more about your options, and contact our firm to discuss the benefits of creating a charitable private foundation.


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