Ronald J. Shoemaker, the Manager of Exempt Organizations, Technical Group 2, has issued a letter ruling on behalf of the IRS. In the letter ruling, the Service has concluded that after the death of an initial member of an organization exempt under section 501(c)(3), the organization will not directly control or indirectly control a tax-exempt trust as per section 4942.
See Tax Analysts: "On Initial Member's Death, Exempt Organization Will Not Control Trust," 2009 TNT 175-32, June 18, 2009
Posted by Raj Chudgar, Associate Editor, Wealth Strategies Journal
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