Lessons in Estate Planning from Paul Newman | Estate Planning content from WealthManagement.com

Lessons in Estate Planning from Paul Newman | Estate Planning content from WealthManagement.com.

Avoiding Conflict

Unfortunately, disputes involving family foundations aren’t uncommon.  While there’s no guarantee against conflict, families considering establishing a family foundation should establish clear communication and proper governance from the outset; be sure to emphasize administrative aspects of the foundation, rather than just giving; and engage the next generation as early as possible.  Following these principles is the best way to ensure that your client’s foundation honors his family’s legacy and accomplishes the good work he sets out to do.

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