Private family foundations for tax planning: is the setup worth the effort?

[MichaelFL]

My accountant mentioned a new strategy some of his clients are using, setting up a private family foundation as part of their annual tax planning. The idea isn't just for the ultra-wealthy anymore; it's about creating a charitable vehicle that can own a side business or investment portfolio, with the profits funding grants. This seems like a huge shift from just donating cash. Has anyone here navigated the setup and ongoing admin costs for something like this, and did the benefits outweigh the complexity?