Create a charitable trust to support the causes close to your heart, whether that’s in education, religion, arts and sciences, to reduce poverty or perhaps a community initiative.
A charitable trust holds and protects your assets specifically for charitable purposes, so that you can leave a lasting legacy that makes a difference by providing ongoing support after you’ve gone.
Charitable trusts can be set up during your lifetime or through your will for after you’re gone. You can decide the purpose of your trust, who you’d like it to benefit (and how), and how much can be distributed or granted each year. They work best when there is enough money to allow for ongoing charitable gifting and capital growth. Generally speaking, this needs an initial contribution of at least $300,000.
For gifting of less than this, there are other ways to support the causes you care about like making a bequest in your will or contributing to an existing trust.
We’ll take care of setting it up, the registration, and ongoing administration of the trust.
Other people or organisations can also make donations to your registered charitable trust and these donations are generally tax free.
With no trusts being the same, the cost will depend on the services required to meet the need of each individual charitable trust.
We’ll need to discuss what you want to achieve, suggest the best way to structure your charitable trust, and then provide an estimate for any subsequent work we do.
Basic costs will include an establishment fee and our specialists’ time. There will also be some ongoing yearly costs for the management of your charitable trust.
