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B.1. Knowing what you are studying at GMU, your elderly neighbor in Arlington asks you to draw up a plan of what needs to be

B.1. Knowing what you are studying at GMU, your elderly neighbor in Arlington asks you to draw up a plan of what needs to be considered (options, alternatives, legal process) - and then done - to set up a charitable foundation.She has $5 million to devote to this, but is reluctant to spend anything on a lawyer this early in her thought process. Please lay it out for her. Would things have been different if she had approached you for advice about starting a foundation with $50,000 (rather than $5 mln)?

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