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

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

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Elizabeth Jenkins
University of Wyoming Foundation
elizabeth.jenkins@uwyo.edu
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Original Message:
Sent: 07-03-2023 09:35 AM
From: John Taylor
Subject: Stewardee question

Weren't all of your earlier stewardship activities addressed jointly to both spouses, regardless if only one was a signatory? I believe that is a common practice. I know that is what many of my clients do automatically - unless that have been directed otherwise by the original donor.

Therefore, I would continue to steward the surviving spouse, AND the Executor (if different).

John

John H. Taylor 

919.816.5903 (Cell/Text)

Big Ideas; Small Keyboard

Original Message:
Sent: 7/3/2023 10:57:00 AM
From: Elizabeth Jenkins
Subject: RE: Stewardee question

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. 

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

Thank you!! 

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

Original Message:
Sent: 07-03-2023 10:15 AM
From: John Taylor
Subject: Stewardee question

As the legal spouse (and now beneficiary) I still believe it would be customary to send joint stewardship material.

I can not think of a reason to not steward this individual. It may also be appropriate to cultivate this individual. Good stewardship may very well lead to new gifts to that same endowed fund!

John

John H. Taylor 

919.816.5903 (Cell/Text)

Big Ideas; Small Keyboard

Original Message:
Sent: 7/3/2023 10:57:00 AM
From: Elizabeth Jenkins
Subject: RE: Stewardee question

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. 

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


Original Message:
Sent: 07-03-2023 09:35 AM
From: John Taylor
Subject: Stewardee question

Weren't all of your earlier stewardship activities addressed jointly to both spouses, regardless if only one was a signatory? I believe that is a common practice. I know that is what many of my clients do automatically - unless that have been directed otherwise by the original donor.

Therefore, I would continue to steward the surviving spouse, AND the Executor (if different).

John

John H. Taylor 

919.816.5903 (Cell/Text)

Big Ideas; Small Keyboard

Original Message:
Sent: 7/3/2023 10:57:00 AM
From: Elizabeth Jenkins
Subject: RE: Stewardee question

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. 

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