What term describes a joint account where each owner's share passes to heirs, not automatically to co-owners?
QUESTION
What is the main advisory implication of a sole proprietorship's legal status?
QUESTION
What is the key restriction on a 501(c)(3) charity regarding private benefit?
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ANSWER
Earnings may not inure to insiders; must serve a public charitable purpose. The private inurement prohibition ensures resources benefit the public, maintaining tax-exempt status and fiduciary integrity.