# @edwardcollins_upleveled on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DL20Z0jxgsW
- **Gondola URL:** https://gondola.cc/posts/35104096-edwardcollins-upleveled-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/5f41af78a2.jpg
- **Posted:** 2025-07-08T18:24:52.000+00:00
- **Account Owner:** Edward Collins | Money Lawyer & Wealth Strategist (@edwardcollins_upleveled) — https://gondola.cc/edwardcollins_upleveled

## Caption

Drop “apply” to see if we may be a fit to help you get your financial life and business structures truly dialed in.

Want to Set Up a Family Foundation? Know the Rules First. 

It’s true — family foundations can be a powerful tool for legacy and tax strategy. 

But here’s what most content creators don’t tell you: 

🚨 If your goal is to “keep the money in the family”… 

You’re already off track. 

Let’s clear this up: 

🧾 When you contribute to a private foundation,
those dollars no longer belong to you or your family. 

They’re meant for public benefit — not private gain. 

That’s why the IRS enforces strict rules around self-dealing. 

Here’s what that means: 

❌ You — and your entire family — are considered disqualified persons. 

❌ You and other disqualified persons can’t rent, buy from, or sell to your own foundation. 

❌ You can’t pay yourself or other disqualified persons unless it’s a legitimate salary for actual work. 

❌ You and other disqualified persons can’t benefit personally from the assets or activities of the foundation. 

Example? 

If your family owns a print shop and your foundation buys flyers from it — 

That’s a prohibited transaction. 

💥 The penalties for this? Severe. 

So yes — the ultra-wealthy use private foundations. 

But they do it with legal precision and a true philanthropic purpose. 

✅ If you’re serious about legacy giving. 

✅ And want to integrate charitable strategy into your tax and estate plan. 

Then do it right — with expert guidance. 

📩 Drop the word “apply” and we’ll help you explore if this strategy fits into your Real Wealth Plan. 

Credit (IG): 

Milan Singh – [milansinghhh] 

 SF0718

## Stats

- **Views:** 339
- **Likes:** 167
- **Shares:** 0
- **Comments:** 9

## Credits

These are the roles credited on Gondola. Credits may be incomplete.
A brand, account owner, or featured person is not necessarily the creator.

| Name | Username | Profile | Role |
| --- | --- | --- | --- |
| Edward Collins | Money Lawyer & Wealth Strategist | @edwardcollins_upleveled | https://gondola.cc/edwardcollins_upleveled | Talent |
| Hector Garcia | @Hector_FilmSchool | https://gondola.cc/Hector_FilmSchool | Content Producer |

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