CAN I SELL FAMILY ASSETS TO MY FOUNDATION?

There are very strict rules against what’s called self-dealing. In fact, the rules are so severe that, for example, if I had an asset that we absolutely know is worth $1,000, and I sell it to my foundation for $500, I’m making them, in effect, a gift to my foundation. That’s prohibited. That can cause severe problems. That is a self-dealing transaction, whether it’s fair or not. Have any more questions? Contact us today to schedule a free consultation! Doane & Doane – Top rated Tax & Estate Planning Attorneys