[WSBAPT] Testamentary Charitable Foundation?

[David Faber]

A client wants to have a charitable foundation established by their estate
at their death, and to leave their entire estate to the charitable
foundation. I can't see any reason why this would be a problem, but this is
a case of first impression for me, so I don't know what I don't know. Would
there be any issue with a testamentary charitable foundation, so long as
the Will lays out the charitable purposes for which the foundation would be
established, directs the PR to file for a Washington State nonprofit
corporation and to seek 501(c)(3) not-for-profit status, and leaves their
estate to the charitable foundation? Would the gift to a not-yet-existent
charitable entity be estate tax exempt?

Thank you.

Best,
David J. Faber
Faber Feinson PLLC
800 Polk Street, Suite B
Port Townsend, WA 98368
(360) 379-4110

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