A good friend has passed, and there are 2 surviving children.  Friends
of the family would like to create a tax-deductble memorial fund. 
What are all the steps we need to go thru in order to make this
happen?

---

Request for Question Clarification by richard-ga on 16 Feb 2005 14:37 PST

If the fund is for the benefit of the two children, contributions will
not be tax-deductible.  Please let me know whether an explanation of
why this is so will be acceptable to you as an answer.

Google Answers Researcher
Richard-ga

---

Clarification of Question by veeravich-ga on 16 Feb 2005 15:19 PST

My guess is, the contributions to the memorial fund will not be tax
deductible because the beneficiary of the fund is *not* a
not-for-profit or charity, correct?  i.e., if the memorial fund's
beneficiary was the World Wild Life fund or something, contributions
would be tax deductble.  Then the real question is, is there *any* way
(memorial fund or not) that people could make contributions to help
the kids and have the contributions be tax deductible?

---

Request for Question Clarification by richard-ga on 16 Feb 2005 16:48 PST

Not exactly - - after all, many scholarship funds can accept
deductible contributions
-R

Who would admnister the fund?  Contact a bank to set up the fund. 
They can advise you and administer the fund.

A good friend would administer the fund.  Does this mean we can walk
into any commercial bank and ask them to help us set up a
tax-deductible memorial fund?  Also, we would like to invest the money
in a 529 plan.  Any problems/issues around that?