A charitable trust established through your Will comes into effect after you pass away and can run into perpetuity – “forever”. Continue your charitable giving beyond your lifetime and create a truly lasting legacy by establishing a charitable trust that distributes income to charities and causes you care deeply about.
A charitable trust allows you to:
continue supporting a cause close to your heart
stay involved in your community in spirit
let your name live on
honour the memory of a loved one
Sometimes charitable trusts are set up in the name of a person we would like to be remembered.
CHARITABLE GIVING & PHILANTHROPY INTO PERPETUITY
Establishing a charitable trust is an effective way of continued giving and an alternative option to a once off donation. A well-managed charitable trust typically aims to grow the capital of the trust over time. This growth provides the ability to nominate specific charities or causes to receive income distributions over a period of time and in turn can provide an ongoing contribution to society.
Can a charitable trust be established with assets other than cash?
Yes, assets like land, real estate, and vehicles often form a larger share in a deceased estate than monetary assets, such as savings or insurance claims. You can nominate that the sale of assets in your Will be used as the capital to establish the charitable trust.
TPT Wealth recently assisted a client who had no children or immediate family, to make provision in her Will for a charitable trust to be established to continue her legacy. TPT Wealth will act as the trustee, to manage its administration and compliance, oversee its investment strategy and distribute income to charities nominated in her Will.
A trust is typically set up via a Will, which appoints a trustee and outlines rules and guidelines for the trustee. These include the purpose of the trust, and how benefits will be paid to charities and/or causes.
To learn more about establishing a charitable trust, call us on 1300 138 044.
What cause is close to your heart?
Charitable trusts can be set up to support nominated charities that undertake work that you care about. Whether it’s a particular area in healthcare, education, support of animals, the environment or the arts, as Trustee, TPT Wealth will administer your trust and distribute income to the nominated charities in accordance with your Will.
Why TPT Wealth?
The trustee is bound to administer the trust according to your wishes and the law. It is important to find a prudent trustee with the right expertise and track record.
One of the most effective ways to create a long-term difference in the lives of others is by establishing a charitable trust with a trustee who is in it for the long game.
TPT Wealth was established in 1887, and is a Trustee Company authorised under the Trustee Companies Act 1953.
Our committed trust administration team offers continuity over generations, an important factor when it comes to administering charitable trusts into perpetuity. This is one of the many reasons why our company inherited trusts from other, smaller trustee businesses whose owners have retired or passed away.
Year in which our oldest and still running charitable trust was opened.
Over 130 Years
Supporting our clients
Expertise under one roof:
Taxation and accounting services Investment portfolio administration
Estate Planning and Prudent Person Advice
The role of a trustee
There are a number of considerations the role of a trustee has, these include but are not limited to:
- the purposes of the trust and the needs and circumstances of the beneficiaries;
- the desirability of diversifying trust investments;
- the nature of existing trust investments and other trust property;
- the need to maintain the real value of the capital or income of the trust;
- the risk of capital loss or depreciation.
Will writing services
Look after your loved ones with a Will. The hardest thing about preparing a Will is getting started. TPT Wealth offers independent and professional advice that can help you take the first step towards protecting your loved ones and feeling confident that they will be cared for long after you are gone. We have the tools and experience to make the Will preparation process simple and stress-free. We can manage your affairs from start to finish, giving you peace of mind, knowing your Estate will be administered as you would have wished and without placing unnecessary stress or burden on your family or friends.
Charitable Trusts in our management
Explore some examples of charitable trusts for which TPT Wealth act as the Trustee.
Florence Nightingale Trust
Watch the video on how this charitable trust created by nurses and midwives helps support their peers with grants in memory of Florence Nightingale.
Over the years the study grants and awards have supported Tasmanian nurses to improve their training and skills, so benefitting hospital and healthcare throughout the state.
Princess Melikoff Trust
Find out how the Trust supports marine conservation and aged care.
Princess Melikoff’s great love for animals and her passion for wildlife conservation and animal protection resulted in her ongoing support of Tasmania’s marine mammals.
Hardie Education Trust and Hardie Fellowship Trust
Read how the fellowships in the name of Professor Hardie have supported hundreds of teachers over many years.
The value that these fellowships continue to provide to the enhancement of teaching capabilities and knowledge in Tasmania cannot be under estimated.