Setting up Trust to distribute to undefined charity

Hi all,

I'm setting up a trust soon and would like to be able to distribute to a charity, but I havent as yet decided on a charity. Since it will be very difficult to add a charity as a beneficiary to an existing trust, I'd like to work this into the deed somehow to be able to define a charity at a later date (or allow the trustee to define it).

How would I go about this, would I need to set up a 'class' of beneficiary or something? The trust would also provide support to my family and possibly distribute to my company if needed.

 

speak to your lawyer before using this, but "any charitiable body" shoud do it.

Then define charitable body as any corporation, unincorporated association, trustee of any settlement, or any other entity established for charitable purposes.

 

Normally such clauses are contained in the Trust Deed, eg. if Discretionary Trust (or Family) a clause is normally included in the Schedule page or similar detailing the primary beneficiaries (named) and then other classes of eligible beneficiaries. It is in the latter class or group of beneficiaries it normally would list something like 'Charities the trustee nominates for this purpose'. Which means you (if you are the Trustee) can distribute to whatever charity you like in the future. So you wouldn't need to specify/name the charity from the outset.
Try and get a draft copy of the Deed before purchasing and read through it to make sure it has the clause/s you want. Else make it clear to the lawyer you are paying, what you want, but generally that is a simple thing to look out for.