If the tragic passing of Microsoft pioneer Ric Weiland in 2006 has a silver lining, it is in the generous charitable bequests he left in his estate plan. Mr. Weiland left a total of about $160 million to charities in his plan, including a total of $65 million to Lesbian, gay, bisexual, transgender (LGBT) and HIV/AIDS organizations, according to a story by CNN. The larges recipient of money was the Pride Foundation of Seattle.
Many people leave sizable portions, or even the entirety, of their estates to charities. These bequests can be structured in trusts that allow the charity to have the benefit during the lifetime of the donor, or after the donor's death.
I have been meaning to post about charitable trusts, and the recent news of Mr. Weiland's bequest has spurred me to action. In my next post, I will discuss charitable lead trusts, and in the following post, I will discuss charitable remainder trusts.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment