Houston Estate Planning and Elder Law Attorney Blog
The goals of a family foundation may be ensured by appointing family members to head up the foundation. Children or siblings of the deceased are usually appointed to run these foundations, with the hopes that they know better than anyone unrelated to the family how to achieve and maintain the values and goals of the foundation.
This “keep-it-in-the-family” approach may not be the best in every family.
The New York Times, in “When Family Members Run Foundations, Scrutiny Never Ends,” identifies some of the potential pitfalls awaiting unwary family members when running a family foundation.