FundSvcs Community

Here's a weird one: We had a donor who used a CRUT to leverage matching dollars to create an endowed fund. The donor was the sole signatory on the agreement. The donor recently passed away, but his surviving spouse is still the beneficiary of the CRUT. A question has come up about who should receive the financials for the endowment created by the matching dollars. Should it be the surviving spouse, the original donor's POA, or no one? One argument is that since the donor's contribution to the endowment fund hasn't been realized, that the surviving spouse shouldn't receive financials on the fund. The other argument is that since her husband contributed the funds to create the CRUT that secured the matching funds, she should receive endowment reports which contain financial information. 

Thanks,

Elizabeth Jenkins

University of Wyoming Foundation

Here's a weird one: We had a donor who used a CRUT to leverage matching dollars to create an endowed fund. The donor was the sole signatory on the agreement. The donor recently passed away, but his surviving spouse is still the beneficiary of the CRUT. A question has come up about who should receive the financials for the endowment created by the matching dollars. Should it be the surviving spouse, the original donor's POA, or no one? One argument is that since the donor's contribution to the endowment fund hasn't been realized, that the surviving spouse shouldn't receive financials on the fund. The other argument is that since her husband contributed the funds to create the CRUT that secured the matching funds, she should receive endowment reports which contain financial information. 

Thanks,

Elizabeth Jenkins

University of Wyoming Foundation

Thanks for your answer, John. In this case, the surviving spouse was not married to the donor when the CRUT was created (which is why she wasn't a signatory), but was added later as a beneficiary. 

Here's a weird one: We had a donor who used a CRUT to leverage matching dollars to create an endowed fund. The donor was the sole signatory on the agreement. The donor recently passed away, but his surviving spouse is still the beneficiary of the CRUT. A question has come up about who should receive the financials for the endowment created by the matching dollars. Should it be the surviving spouse, the original donor's POA, or no one? One argument is that since the donor's contribution to the endowment fund hasn't been realized, that the surviving spouse shouldn't receive financials on the fund. The other argument is that since her husband contributed the funds to create the CRUT that secured the matching funds, she should receive endowment reports which contain financial information. 

Thanks,

Elizabeth Jenkins

University of Wyoming Foundation

Thanks for your answer, John. In this case, the surviving spouse was not married to the donor when the CRUT was created (which is why she wasn't a signatory), but was added later as a beneficiary. 

Here's a weird one: We had a donor who used a CRUT to leverage matching dollars to create an endowed fund. The donor was the sole signatory on the agreement. The donor recently passed away, but his surviving spouse is still the beneficiary of the CRUT. A question has come up about who should receive the financials for the endowment created by the matching dollars. Should it be the surviving spouse, the original donor's POA, or no one? One argument is that since the donor's contribution to the endowment fund hasn't been realized, that the surviving spouse shouldn't receive financials on the fund. The other argument is that since her husband contributed the funds to create the CRUT that secured the matching funds, she should receive endowment reports which contain financial information. 

Thanks,

Elizabeth Jenkins

University of Wyoming Foundation

Thanks for your answer, John. In this case, the surviving spouse was not married to the donor when the CRUT was created (which is why she wasn't a signatory), but was added later as a beneficiary. 

Here's a weird one: We had a donor who used a CRUT to leverage matching dollars to create an endowed fund. The donor was the sole signatory on the agreement. The donor recently passed away, but his surviving spouse is still the beneficiary of the CRUT. A question has come up about who should receive the financials for the endowment created by the matching dollars. Should it be the surviving spouse, the original donor's POA, or no one? One argument is that since the donor's contribution to the endowment fund hasn't been realized, that the surviving spouse shouldn't receive financials on the fund. The other argument is that since her husband contributed the funds to create the CRUT that secured the matching funds, she should receive endowment reports which contain financial information. 

Thanks,

Elizabeth Jenkins

University of Wyoming Foundation

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Elizabeth Jenkins
University of Wyoming Foundation
elizabeth.jenkins@uwyo.edu
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