Whether we wish to donate a large or small amount to charity, any contribution to philanthropic causes is significant as it can make a huge difference in the lives of the less fortunate. Australians are renowned for their generous spirit and ‘fair go’ attitude and it is only natural for those who are well-off or financially secure to direct some of their wealth and influence towards philanthropic causes. More importantly, regardless of your station in life, any contribution to charity is worthwhile and a charitable gift in your will may be something you wish to do. Whether or not you are extremely wealthy or powerful, you are still able to make an immense impact on another person’s life. Having a discussion with one of our qualified Wills and Estates Lawyers can greatly assist you in making provision for charitable causes in your will.
One of the primary ways we can devote ourselves to philanthropic causes is through donations or direct giving to charitable organisations. You may donate from your estate to a charity or make a charitable gift. This may involve many considerations such as the amount you intend to give; the time frame for giving; and the level of engagement you want as the donor (as you can set aside funds from your estate for the establishment of a charitable trust). Thorough and sound legal advice in this area of law may be of immense value in determining the appropriate structure for making a charitable provision in your will.
If you wish to establish a charitable trust in your will, then consultation to seek detailed and sound legal advice is recommended. A charitable trust is a trust for charitable purposes and only indirectly for persons. Individuals who come within the scope of the charitable purpose may be the recipients of the benefit but cannot be the direct objects. Often in this context the reference is made to a charitable gift that should be treated as synonymous with a charitable trust, as gifts for charity (being 'purpose' gifts) are effected by law through the vehicle of the charitable trust. A body or organisation that holds property upon a charitable trust and carries out the trust purposes is commonly called a charitable institution or a charity. A charitable institution or charity is essentially the instrument for carrying the charitable purpose into effect. A charity may be created as a simple trust, vesting the trust property in the trustee(s) for one or more specified charitable purposes. On the other hand, charities and charitable institutions may be (and often are) incorporated, whether as a company is limited by guarantee. Yet the law treats even an incorporated charity or charitable institution as holding the charity property on charitable trust. A qualified Wills and Estates Lawyer may have regard to your circumstances and advise you of a suitable trust structure that is compatible with your needs.
You can obtain further information or legal advice on charitable trusts and organisations by contacting our firm on (02) 9233 4048 or send an email to info@navado.com.au and arranging an appointment to speak with one of our legal experts.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
Sorry, but no Articles are available at this time.
Sorry, but no FAQs are available at this time.
If you require assistance with a Wills matter, you should make an appointment to see one of our Lawyers in one of the following locations:
- Sydney
