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October 31, 2019

Corey Auerbach Interviewed by Common Ground

Corey Auerbach, partner, was recently featured in the “Ask the Experts” column of Common Ground, which is Community Association Institute’s national magazine.

“Q: Some of our homeowners want to leave the association money in their will. Can the association accept these sorts of gifts? Does it need to be set up through a trust or used for a specific purpose? —New York

A: Unless inconsistent with the terms of an association’s governing documents or any certificate of incorporation, there is nothing that would restrict an association from accepting a monetary gift, be it during the life of the donor or as part of testamentary bequest. Similarly, a donor could establish a trust for the benefit of the association. If the association is aware that a donor desires to provide for the association in a will or trust, it may be beneficial to meet with the donor to ensure the intent and purpose of the donation can be satisfied.”

Read the full column here.

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