My sister passed away, We were very close and I have a calling to help complete a dream she had for her daughter. She wants her to have the opportunity to go to her high school Alma mater.
We are planning memorial events, fundraisers and collections and I just don’t know how to set up the funds correctly to benefit the recipient and the donors
Details: We have 6-7 years between now and her first day at high school. We’re estimating cost with inflation to be around 80k for tuition for all 4 years of high school.
We want to shelter it with the beneficiary being the daughter and managed by a parent of my sister.
We want donors to be able to write it off as a tax deduction and also any growth to be tax exempt if possible.
It needs to benefit the daughter directly.
We want the money to be flexible in its use but will be geared towards high school education.
Notes: We have been recommended a 529 or establishing a non profit however after speaking to advisors and legal council I still can’t make peace with knowing these are the only options available and neither give me what I’d like.
Any help would allow me to honor my sister and definitely change her daughters life in the future. Thanks
Submitted June 27, 2018 at 12:36AM by Goldenglov4 https://ift.tt/2Kbz5kK
