[WSBAPT] Testamentary Charitable Trust

[Katharine P. Bauer]

Thanks , can we schedule a phone call when you are available?

On Wed, Nov 25, 2015 at 2:53 PM, John Creahan <john at cairn-law.com> wrote:

> Hi Katherine,
>
> Charitable gift planning is a significant part of my practice, and I would
> be happy to discuss this situation with you. The trustee might need to seek
> tax exemption as a private foundation, although I suspect other options
> might work better.
>
> Thanks,
>
> John
>
>
>
> John Creahan
> john at cairn-law.com
>
> 1325 4th Ave., Suite 940
> Seattle, WA 98101
> 206-621-5848
> www.cairn-law.com
>
> [image: cid:image001.png at 01CE636C.3EB992D0]
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:
> wsbapt-bounces at lists.wsbarppt.com] *On Behalf Of *Katharine P. Bauer
> *Sent:* Wednesday, November 25, 2015 2:37 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] Testamentary Charitable Trust
>
>
>
> Okay, I have a Survivor's Trust that terminates and passes all assets to a
> Charitable Trust (Not Remainder Annuity, or Remainder Unitrust) which has
> stipulations that all proceeds, income or principal, must be distributed to
> 501(c)(3) organizations.
>
>
>
> Obviously, we need to get a tax EIN and the trust will have to file 1041s
> and 990s.  In order to eliminate estate taxes paid for distributions to
> this charitable trust from the survivor's trust, we need to file a Form
> 1023; are there other options?   We also have the ability to convert it to
> a private foundation/corporation rather than leaving it in trust ???? other
> suggestions??
>
>
>
> Who out there in listserve land does this regularly?
>
>
>
> The trust will originally hold 8-9 million dollars.  Trustees intend to
> distribute all within 10 years.
>
>
>
> Thanks and Happy Thansgiving!
>
>
>
> --
>
> Katharine P. Bauer
>
> Bauer Pitman Lifetime Legal, PLLC
> 1235 Fourth Ave. East, Suite 200
> Olympia, Washington 98501
> tel. 360.754.1976
> fax. 360.943.4427
>
> e-mail: kpb at bpblegal.com
>
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-- 
Katharine P. Bauer
Bauer Pitman Lifetime Legal, PLLC
1235 Fourth Ave. East, Suite 200
Olympia, Washington 98501
tel. 360.754.1976
fax. 360.943.4427

e-mail: kpb at bpblegal.com

This message is confidential and may be protected by the attorney-client
privilege; it is intended solely for the use of the individual named above.
If you are not the intended recipient, you are hereby advised that any
dissemination, distribution, or copying of this communication is strictly
prohibited. If you have received this e-mail in error, please immediately
notify the sender by telephone or e-mail, delete this message from your
files, and return any printed copies to the sender by U.S. mail. Circular
230 Disclosure: Any tax advice contained in this communication (including
any attachments) is not intended or written to be used, and cannot be used,
for the purpose of (i) avoiding penalties that may be imposed under the
Internal Revenue Code or (ii) promoting, marketing or recommending to
another party any transaction, arrangement, or other matter
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