Testamentary Trusts
You may prefer to establish a charitable foundation through your will
This is the traditional way to leave a lasting legacy that perpetuates your contribution or honours the memory of someone you love or admire.
Beneficiaries do not have to be Deductible Gift Recipients. You need only ensure that the income benefits a charitable purpose. A testamentary trust allows you to be very specific about the types of assistance your trust provides year after year.
For example, grants can be made to individuals in need or as part of a scholarship fund.
AT A GLANCE
Advantages
- Income produced within the Fund is tax-free.
- The trust will not be established until after your death so you don’t have to be concerned with the consequences of gifting money during your lifetime.
- You can nominate a Co-Trustee to act with Equity Trustees.
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