Attorney Profile | 2012 Annual Report
Jay D. Waxenberg
“As you know, I heartily favor the making of The Community Trust the medium by which testators may leave their property by will to a trustee for charitable purposes. It is only in this way that such property can be put to the best possible use, and that a testator may be assured that his estate will be administered for the purposes which he has in mind.”—Letter from Morgan J. O’Brien, Corporation Counsel, NYC, and Justice of the Supreme Court of New York, October 22, 1924
|“I recommend The Trust to many different clients. It’s
particularly helpful for people who have a charitable purpose but don’t
know which nonprofits to support. The Trust does an excellent job of
vetting charities to make sure that they are sound and fill the donor’s
purpose.” - Jay D. Waxenberg
Lawyers were a key factor in helping to create and build The New York Community Trust. Almost 90 years later, they still are. Jay Waxenberg is a partner and chair of the Personal Planning Department at Proskauer Rose LLP. He’s also a member of the firm’s Not-for-Profit/Exempt Organizations Group and Fiduciary Litigation Group. Waxenberg’s practice has focused on helping families with estate and tax planning and trust administration. He regularly counsels individuals on charitable giving and advises private foundations and public charities on tax issues.
And he’s been doing it for many years—so many, in fact, that he doesn’t remember when he first heard about The New York Community Trust. “I recommend The Trust to many different clients. It’s particularly helpful for people who have a charitable purpose but don’t know which nonprofits to support. The Trust does an excellent job of vetting charities to make sure that they are sound and fill the donor’s purpose.”
In addition to referring clients who set up donor-advised funds, Waxenberg also recommends The Trust to charitable clients who understand the value of legacy. One client who started with a donor-advised fund endowed it in his will. “There are a lot of ways to give to charity. Charitable lead trusts and charitable remainder trusts can be two effective estate planning tools,” he says.
When he’s working with clients on their estates, Waxenberg asks if, after taking care of family, they want to leave money to charity. If the answer is yes, we know who he often recommends.