I hear a lot of talk these days about “for-profit organizations” and “not-for-profit organizations,” but I’m not sure how much the general public actually knows the difference between the two. It seems obvious, of course. A for-profit organization is for-profit and a not-for-profit or nonprofit organization is not-for-profit. What does that actually mean? It is complicated… Read More
Speculating on what the Michael Jackson Family Trust Provides
It’s not my intention to turn this blog in to a celebrity gossip site. However, there are a number of legal issues regarding Michael Jackson’s estate that are continuously being reported on by reporters who do not fully understand (or do not care about) the nuances involved. The latest batch of confusion involves the disposition… Read More
Good article in the WSJ on Charitable Lead Trusts
There was a good article in yesterday’s Wall Street Jounral on an esate planning device known as a chartiable lead trust or CLT. Under a CLT, the donor sets up an trust, drafted by an estate planning attorney in which the donor funds the trust with an initial amount of money up front, let’s say… Read More
