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Executor of Foundation Trustee’s Estate Has Standing to Review Foundation Actions

Executor of Foundation Trustee’s Estate Has Standing to Review Foundation Actions

Executor of Foundation Trustee’s Estate Has Standing to Review Foundation Actions

Court says executor needs to be able to estimate liability for excise taxes, without regard to family discord
An executor of the estate of a private foundation trustee has standing to discover materials about foundation operations when he claims he needs the information to estimate possible liability for foundation excise taxes, the Pennsylvania Superior Court has held. This is true without regard to the long-standing family discord between the parties. ( In Re: Raymond G. Perelman Charitable Remainder Unitrust , Superior Ct., PA, No. 155 EDA 2014, 3/17/15. ) The case primarily involves Raymond G. Perelman, billionaire businessman and philanthropist, and his son Jeffrey, who was named executor of the estate of his mother Ruth, who died in 2011. The father and son have fought over business issues...

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