I simply get confused as to which would be more appropriate; of the 3 mentioned. I would like to set up a small foundation and use a large portion of my assets for this purpose-it would be done through proceeds donated to 1 or 2 reputable national organizations...
any and all suggestions are dearly appreciated
An administrator is a person or entity that handles a person's assets after he or she dies without a will.
An executor is a person or entity that is named in a will and handles a person's assets after he or she dies.
A conservator is a general term meaning a guardian appointed by a court to manage affairs of an individual held incompetent.
A trustee (which you did not name) is an individual that handles a trust. A trust is a legal entity that holds property for the benefit of another individual or entity.
Based on your question I think you want to set up a trust.
I agree with all of the prior definitions. However, I just would add thatnthere are many ways to set up a small foundation and there are a lot of factors that govern it. I do not know if you mean to say foundation, becuase this is a very defined legal term. I would consult with a lawyer. You have very good intentions and you certainly shoud make sure that they get fullfilled.
I agree with the above answers and would supplement that you you speak with a planning attorney as to whether a foundation or trust is best suited for your needs
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline