Statutory vs. Charitable Foundations - What Are the Differences? (Foundations Wealth Management)
Channel: Esquire Group
Date: 06/05/2021

Statutory vs. Charitable Foundations - What Are the Differences? (Foundations Wealth Management)

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With the US being a ‘common law jurisdiction’, it’s no wonder many Americans may be confused about foundations (and no, we’re not talking about charitable foundations like the Bill and Melinda Gates Foundation). This is because foundations are a concept derived from a ‘civil law jurisdiction’. So what does that mean for families setting up foundations to protect their wealth... or assets? What are the tax consequences? 

With the ever-growing popularity of statutory foundations, it’s important to understand not only the benefits but how they are set up, operate and whether your statutory foundation would be treated like a trust or corporation, where tax laws are concerned.

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About Jimmy Sexton:

Hi! I am Jimmy Sexton, LL.M. - Founder & CEO of Esquire Group. I founded Esquire Group with the objective of helping and inspiring wealthy families, investors, entrepreneurs, and high-level executives obtain and gain control over and protect their wealth, via strategic wealth planning.

Connect with me on LinkedIn: https://www.linkedin.com/in/jimmysextonllm/

Disclaimer:

This video is prepared for educational purposes only. This video is not legal, tax or any other type of advice. Each individuals’ circumstances are different, you should seek legal and/or tax advice to address your specific situation and any questions you may have.