Charitable Trusts
Understanding Charitable Trusts
A charitable trust is a legal entity set up to hold and manage assets for charitable purposes. In Australia, charitable trusts are governed by specific laws and regulations to ensure that the assets are used for the intended charitable purposes.
Types of Charitable Trusts
There are several types of charitable trusts, including public charitable trusts, private charitable trusts, and charitable remainder trusts. Each type has its own set of rules and requirements.
Public Charitable Trusts
Public charitable trusts are established for the benefit of the public or a particular section of the public. These trusts are usually created through a trust deed and are regulated by the Australian Charities and Not-for-profits Commission (ACNC).
Private Charitable Trusts
Private charitable trusts are set up for the benefit of specific individuals or families. These trusts may also have charitable purposes, but they are not open to the public. Private charitable trusts are governed by the terms set out in the trust deed.
Frequently Asked Questions
Contact Wright Street Lawyers for Charitable Trust Assistance
If you need legal advice or assistance with setting up a charitable trust in Adelaide, South Australia, contact Wright Street Lawyers today. Our experienced team specialises in family law, estate planning, probate, and criminal defense, and we can help you navigate the complexities of charitable trusts.
Reach out to Wright Street Lawyers for client-focused guidance on charitable trusts and ensure that your charitable intentions are carried out effectively and in compliance with Australian law.