Honoring a loved one lost to tragedy can result in legacy.
The family of Oakley Debbs, who died from an allergy to peanuts and tree nuts, has decided to start a foundation in his honor to help educate other people about allergies and to provide funding for research, according to FOX News in "Boy's death after unknowingly eating nut in cake leads family to start a foundation."
The 11-year-old Debbs of Florida was an active youth who had aspirations of becoming a quarterback in the NFL. He knew that he had what was believed to be an allergy to peanuts and tree nuts and avoided them. He had a piece of coffee cake at a family gathering at Thanksgiving but it contained walnuts. Despite emergency treatment with EpiPen, he passed away.
Families starting foundations in the wake of a lost loved one's tragic death is becoming a minor trend. By setting up a foundation instead of just giving to a charity that does similar work, families are more capable of controlling the loved one's legacy and directing how funds should be spent.
However, foundations are also more difficult to manage and require families to invest more time in the project. Some get around this problem by hiring professional foundation management companies.
Contact a wills and trusts attorney, if you would like to explore options to create a legacy.
Reference: FOX News (Dec. 6, 2016) "Boy's death after unknowingly eating nut in cake leads family to start a foundation."