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Giving to Charity

Family Office

There is a growing trend amongst persons with considerable wealth, and those with no close family, to make provision for a gift to charities that will provide for the charity to benefit for an indefinite period of time (e.g. I wish the poor of a particular village to receive a gift at Christmas out the income from the trust) or enable them to achieve a specified objective (e.g. I wish for a primary school to be built in a particular village to provide free education for all).

This can be accomplished in a number of ways; if it is intended that the gifts will become effective after death then a ‘Will Trust’ can be used, and if during lifetime and after death a Trust or Foundation, each have their advantages.

The Will Trust is a trust set up during the lifetime of the donor with, say, £100.00. The donors Will states that after their death their Executor is to gift the amount intended to be put to charitable use into the trust and the trustees will then look to the Letter of Wishes to guide them as to the donors intentions.

A Trust is set up and funded during the donors lifetime and the trustees will be able to consult with the donor and begin their work at once, and to continue it after the donor has passed away, having had the benefit of that ongoing consultation and the donor being able to see that their generosity was being put to good use.

Foundations are more commonly used where considerable funds are involved and/or there is a complex specific objective, such as the building of a primary school. In such circumstances it might be appropriate, for example, to have an Elder or Headman from the village on the Foundation Council, and if, having built the school, the running of the school is to be paid for by the state or district, a representative of that body as well. Gifts that are intended to be of ongoing benefit to a community need to engage with that community if maximum benefit is to be derived.

Fedelta has considerable experience in charitable works; if this is an area that you would like to discuss please contact Michael Shimmin.

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