Spend-Down Funds

Date: January 1, 2012 Author: aque Categories: Latest News

"I want my charities to be able to swallow my bequest, not choke on it," said our wise 82-year-old donor to Aqueduct Foundation. She had three charities she had supported for years and wished to include in her will. One was her 100-year-old parish church, one was an arts organization, and one was a local social services agency. When planning her estate, we had discussed outright gifts to the charities and the idea of creating an endowment, but she chose the option of a "spend-down" legacy...

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