Question: What’s the Best Way to Set Up A Scholarship Fund?

Response: A lot depends on what you have in mind in terms of recipients and association with any school. If you want the funds to go to students at a particular school, whether a high school or college, it makes sense to get in touch with the institution and work within their existing structure. This has a few possible advantages. They may help in choosing the recipients and also may manage the funds. It can also offer continuity so the scholarship can continue when you and other family members can no be involved in choosing recipients. You and others may even receive a charitable deduction for making contributions to the fund.