Understanding the role of responsible persons in Private Ancillary Funds
“With great power comes great responsibility”- Uncle Ben to Spiderman Individuals, families and organisations wishing to engage in philanthropy often choose to do this through a Private Ancillary Fund (PAF) . We think this is a great idea, but as you might expect, because they involve tax-advantaged donations and are used to distribute funds to […]
Our answers to your top 5 questions about Private Ancillary Funds
Do you want to be more strategic in your charitable giving, make a real impact on the community and create a lasting legacy as part of your family’s story? Private Ancillary Funds (PAFs) can be a great option to achieve these goals. To help you decided whether PAF is right for you, we’ve pulled together our answers to 5 questions we are frequently asked by those considering establishing a PAF.
What do I need to know about setting up a Public (or Private) Ancillary Fund?
An ‘Ancillary Fund’ is a special type of trust that can be used to collect and distribute donations for charitable purposes. The Fund can be set up through a trust deed while you are alive, or through your Will. Importantly, the Fund does not undertake charitable work itself, but can be used as a collection point to pool donations and then distribute them to charities and causes, as decided by the trustees.