Paul A. Simpson, Esq.
Parrish, Houck and Snead
Although people often set up charitable funds to achieve tax savings, “philanthropic intent is critical,” said Paul Simpson, an attorney with Parrish, Houck and Snead in Fredericksburg. Paul has helped many of his clients establish irrevocable trusts that provide them lifetime income—and sometimes for the lives of their children. The donors get immediate tax benefits. Then when the last beneficiary passes, the remaining funds are used to establish or support a charitable fund at The Community Foundation.
“This gives the donors immediate tax benefits, ample funds for their lifetimes, but also assures that they will leave a legacy of helping others.”
Paul is a past president of The Community Foundation’s Board of Governors.