Supporting charities through the coronavirus crisis

Published on
1 min read

As the world struggles, the need for charity (the need to support our most vulnerable) has never been greater. Charities, however, are not immune from the fallout. They too are under pressure with fundraising events being cancelled, charity shops closing and many funders unable to continue their support.

What can you do to help?

  1. Give directly now

Simply identify your chosen charity and decide how much to give.

  1. Set up a Donor Advised Fund (a “DAF”)

Transferring a sum of money into a DAF (essentially a charity account) is similar to funding a charitable trust but without the responsibility (all ongoing administration is covered by the DAF provider).  Your only job as Donor will be to provide guidance as to which charities should benefit from the funds set aside.

  1. Establish your own grant making charity

If events have encouraged you to think about long term giving, using a proportion of your wealth for the greater good and engaging the whole family on a charitable project, creating your own charity to support other organisations may be the right way to structure your giving.

  1.  Leave a legacy under your Will

Whether it be a stated sum, a specific asset or a proportion of your estate.  If your estate is facing inheritance tax, whatever you leave will also help mitigate that potential tax liability.

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