Charles Fayerweather works with clients in the areas of taxation of individuals, estates, and nonprofit organizations. As a professional fiduciary, he acts as a trustee of individual and family trusts and as an executor of estates.
He frequently represents high net worth individuals using sophisticated estate planning and charitable giving techniques to allow the transfer of wealth to successive generations and to charities in a tax efficient manner. Charles also often represents non-traditional families and business owners to successfully address their unique estate planning needs.
Charles has represented nonprofits with virtually every issue that arises during the life of an organization. These range from formation and obtaining recognition of tax-exempt status through on-going regulatory and tax compliance, fundraising, employment and compensation issues, liability reduction and governance issues. Leading nonprofits seek Charles's counsel with tax compliance issues, including unrelated business income tax, self-dealing in private foundations, excess benefit transactions in public charities, and political activities.
- A childless couple, wanted to create a plan designed to perpetuate their legacy of generosity. Charles created a plan to achieve the couple's goal through a trust for family and friends and a continuing charitable foundation.
- For a multi-generational family with shared interests in real estate, Charles negotiated an equitable termination of a flawed trust that controlled the real estate but which the family believed could not be terminated.
- For the family of an artist, worked with gallery owners and museums to maximize the value of the artist's work after the artist's death while minimizing estate and income taxes.
- For an individual facing an unexpected taxable windfall, created a charitable foundation that allowed him to avoid tax liability while giving him control over the funds to carry out charitable activities that were of interest to him.
- For the owner of a family business, created a plan that allowed the owner to successfully transfer the business to his children tax free while allowing him to remain in complete control of the business until he was ready to transfer control to the next generation.
- For a retired couple concerned about preserving a steady income stream for themselves while maintaining their commitment to charitable giving, structured a series of charitable remainder trusts designed to provide income reasonably well protected from both inflation and declines in the value of investment assets while allowing for a likely substantial gift to charity at their deaths.
- For a couple with two disabled adult children, set up trusts to assist the children after the parents' deaths while maintaining the children's eligibility for government benefits.
- For a private foundation, structured protocols for an innovative program of providing millions of dollars worth of direct assistance to economically disadvantaged individuals.
- For an operating charity, structured sponsorship arrangements and partnerships with for-profit companies enabling the charity to bring in millions of dollars of new revenue without jeopardizing its tax-exempt status.
Activities and Publications
- Author and Lecturer for Massachusetts Continuing Legal Education, Inc.
- Member of the Probate Law and Taxation sections of the American, Massachusetts, and Boston Bar Associations
- Officer, Sharon Education Foundation, a charitable organization that raises funds for innovative educational programs in the Sharon, Massachusetts public school system
- Member, Board of Overseers, North Bennet Street School, a nationally known school in the field of traditional handcrafts, including bookbinding, fine woodworking, jewelry making, and preservation carpentry featured in the 2009 PBS special, Craft in America
- Director and Officer, Friends of the Sharon Dog Park, a charitable organization that raises funds for an off-leash recreation area in Sharon, Massachusetts