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Story summary
- Philip Peterson has filed a lawsuit against WaterStone, which manages his late father Gordon Peterson's $21 million donor-advised fund.
- He alleges WaterStone denied him access to information since early 2024.
- He alleges WaterStone has not honored his grant recommendations since early 2024.
- WaterStone says it has respected the wishes of Gordon Peterson.
- Experts warn the case could set a precedent limiting donor oversight of DAFs marketed as flexible accounts.
