Re: how to compare living standards


"William F Hummel" <wfhummel@xxxxxxxxxxx> wrote

A foundation is a non-profit institution. To qualify as a foundation
it must accredited goals and specific rules which it must follow in
the use of its funds. The managers are responsible for following
those rules. I believe that your heirs can head the foundation,
subject to those rules. That means they cannot play with the funds in
the way you are apparently thinking.


It's our friend Jim who apparently thinks the heirs can play with the funds
in the foundation. I'm the one who keeps trying to tell him that there's a
difference between leaving your heirs cushy jobs running a billion-dollar
foundation, and leaving them a billion dollars straight up.

-- TP


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