Will Wednesday: Two charities named as beneficiaries — should we be concerned?
Q. Charities as Beneficiaries
There are two charities named as beneficiaries — should we be concerned?
A. Charitable Organizations can be Professional Beneficiaries
Modern corporate governance require charities to no longer be simply patient and grateful to receive a bequest. Many charities are now much more diligent in their review of executor performance, and less likely to forgive any errors that impact the financial value of their bequest. Certain prominent charities describe themselves as “professional beneficiaries”; they may try to impose strict rules upon the administration of the estate. This may include litigation against the executor if the organization believes that such action will improve the financial result.
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