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Private Foundations: Scope of provisions regarding split-interest trusts

The provisions subjecting nonexempt charitable trusts to certain private foundation requirements generally apply to trusts in which some but not all unexpired inter­ests are charitable. An estate from which the executor or administrator is required to distribute all of the net assets in trust or free of trust to both charitable and noncharitable beneficiaries will not be considered a split-interest trust during the period of estate administration or settlement with the exception of the provisions discussed under Estates. A split-interest trust created by a will is considered a split-interest trust as of the date of death of the decedent-grantor except for the exceptions dis­cussed under Certain revocable and testamen­tary trusts that wind up

Additional information:

Application of rules relating to termination of private foundation status.

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Page Last Reviewed or Updated: 20-Mar-2015