The term 'trust' applies to a situation where a person or organisation (the settlor) is appointed to hold money or property on behalf of another (the beneficiary).
Trusts can be established for a number of reasons including the preservation of assets, tax planning, providing for children and charitable causes. The Public Trustee facilitates the creation of a trust when appointed as the trustee. Assistance will also be provided if you choose to establish a trust through your will.
The Public Trustee is Trustee for the following five leading philanthropic charitable Trusts in Queensland.
Established in 1997, Queensland Community Foundation provides a permanent source of philanthropic funding for charitable organisations to enable them to respond to the needs of the Queensland community. The Trust achieves this through investing donated monies, distributing income earned and facilitating grants to charities.
The Lady Bowen Trust was established in 2006 and aims to re-engage people experiencing chronic homelessness, or at risk of homelessness, so they achieve genuine, positive and lasting outcomes. The Trust partners with established charitable organisations, such as Mission Australia, to provide targeted and flexible support according to individual client needs.
The Queensland Aboriginal and Torres Strait Islander Foundation is an independent public Trust established in 2008, which aims to provide young Aboriginal and Torres Strait Islander Queenslanders with a secure funding source through the provision and promotion of scholarships to assist them in their senior years of education.
The Forde Foundation was established in August 2000 in response to the findings of the ‘Commission of Inquiry into Abuse of Children in Queensland Institutions’, better known as the Forde Inquiry. The foundation provides a small grants program to former residents of Queensland institutional care, in specific areas such as dental, health and wellness and education and employment related training.
Established as a perpetual Trust in 2011, the Gladstone Foundation enhances the liveability of Gladstone communities by providing social infrastructure and service needs in the Gladstone region. Specific purposes of the Trust are relieving poverty, assisting the aged, relieving sickness or distress, advancing religion and education, providing childcare services on a non-profit basis and other purposes which benefit the Gladstone Region.
When making your Will with the Public Trustee, you can nominate the above mentioned charitable Trusts as beneficiaries of your estate, commonly known as a bequest.
To find out more about nominating one of the charitable Trusts above as the beneficiary of your estate, speak to your Wills Officer during your Will making appointment.