A charitable trust must provide benefit to the public, not to a specific individual. Its aims, purposes and objectives have to be exclusively those which the law recognises as chartiable. It may need to be registered with the Charity Commission.
You can create a charitable trust during your lifetime or, after your death, by will.
An example of when a charitable trust might be appropriate is if someone wants to benefit local good causes rather than a national charity.
It is important to consider all of the legal, practical and tax implications before creating a trust. At Hart Brown we will guide you through the implications and help you set up a trust that best suits your objectives. We can also act as trustees of the trust.