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How Do I Set up a Charitable Trust?

Answer

A charitable trust is an irrevocable trust established for charitable purposes. It can be set up by anyone who has decided they want to commit to setting aside some of their assets or income for charitable causes. The following steps are critical in setting up a trust, draw up a trust document, fund the trust, apply for charitable status and finally submit the records.
1 Additional Answer
There are numerous reasons and several ways of setting up a trust, in which you will need to draw up a Trust Deed. The next step would be to fund it and apply for charitable status as it will provide you with favourable tax treatment. The final step would be to submit accounts to HM Revenue and Customs and, where relevant, to the Charity Commission.
Q&A Related to "How Do I Set up a Charitable Trust"
1. Determine which kind of charitable remainder trust (CRT) is best for you to set up. Choose from a charitable remainder annuity trust, a charitable pooled income fund and a charitable
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A charitable remainder trust is a trust for the benefit of a non-proft charity where the donor holds on to and can use the proceeds while they are living.
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A charitable trust is a trust set up to benefit a charity. The donor can receive income from the trust until their death and remaining funds go to the charity.
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A charitable lead trust is a philanthropic and estate planning tool. A donor can transfer assets, such as cash, stocks and artwork, to a trust for a set term of years. Each year,
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