The FoodWine group is in the process of setting up a Trust for Carla
Pastorio's education. Bob was aware that we were considering this and
approved. Please see the message below and, if you have questions or
comments, please contact Dan at [email hidden].
from The Scarlet Wombat <[email hidden]>
reply-to Discussion List for Food and Wine
<[email hidden]>
to [email hidden]
date Apr 4, 2007 7:00 AM
subject [FOODWINE] The Carla Fund
mailed-by listserv.cmich.edu
This is a test to see what people think. Carol has informed me that
there
is an existing college fund for Carla. It would make sense to
contribute
to that, if the fund permits. It would be easy to do this if we
establish
a trust account at a bank where people can send checks, or to a
trustee,
and have them made out specifically to the fund, not to an
individual. This way, the IRS will not count it as individual
income. I've been asked to be the trustee of this a couple of times,
and
volunteered once, I think, so am happy to do the legwork. I would set
up a
trust with myself as trustee, and a very specific designation that
only
allows the funds to be used for Carla's existing college fund. I'll
learn
more about that from Carol in a few days, I suspect.
The reason for the intermediate bank account is simple: If we
aggregate
contributions and send off a larger amount to the fund each month or
quarter, depending on the amounts in question, it will be a lot
easier. Many funds would object to receiving many small deposits and
might
ding the fund for them, or have minimum deposit rules that an
individual
would not be able to meet. This way, we meet any requirements of the
fund
and have a way of tracking each donor for Carla to have a list if she
so
desires.
If any of you are on other lists where Bob was present or are on
groups
like rec.food.whatever, please pass this on and include my email
address,
[email hidden], so people can contact me with pluses or minuses to
this idea.
Thanks,
Dan Graham