Charitable Trust Creation
My NZ Trust, the quick, easy and cost effective wayto ensure what it is important to you is protected.
What is a Charitable Trust?
A Charitable Trust is set up by individuals, families and others who wish to benefit a charitable cause in perpetuity. The structure is similar to a Family Trust with the exception that the trust must act exclusively or principally for charitable purposes, which include:
- the advancement of education;
- the advancement of religion;
- the relief of poverty, sickness or disability and
- any other purpose that benefits the community.
Types of Trusts
1. Unincorporated charitable trust
This type of charitable trust may be used when someone sets up a trust to provide funds for a particular cause. Like any unincorporated group, there are limitations to this type of trust and it’s not recommended for an ongoing community group.
2. Registered charitable trust (trust-based)
With this type of charitable trust, two or more trustees can set up a trust for a charitable purpose. This is useful if the initial trustees want to retain control of the organisation, including appointing further trustees.
3. Registered charitable trust (society-based)
With this type of charitable trust, an established group (or a minimum of five people) can register a society as a charitable trust board under the Charitable Trusts Act 1957 as long as it meets the requirements of being charitable. On incorporation, the members of the society become members of the board.
Do you have a question
about our service?
We offer a hassle-free and affordable way to set up a trust that is tailored to your needs. We are registered tax agents with Inland Revenue and our service is simplified, making the process of setting up a trust easier than ever before.
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Family Trust
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Wills
A Will contains instructions about what you want done with your property when you die and how you want your dependents (partner, children, etc.) to be looked after.