SA - Safecracking Bequests

Safecracking Bequests – can you unlock a charitable bequest from the terms of a charitable trust? Section 69B of the Trustee Act 1936 (SA)

Occasionally donors like to stipulate in their will or via a charitable trust how their donation is to be applied within a Not for Profit organisation. This can cause problems for the NFP if they are unable to use the funds for their intended purpose or the donation is simply insufficient to establish what the donor had envisioned. As a result, NFPs can be left with the awkward question “What do I do with these funds?”.

Too many NFPs form the incorrect assumption that these funds can simply be put towards another charitable purpose within the organisation. However, this is often not the case and doing so can severely compromise a NFP’s reputation. Other NFPs put these funds in the ‘too hard’ basket leaving them to accumulate but without being used for their intended purpose.

However, there is a saving grace! The underutilised section 69B of the Trustee Act 1936 (SA) provides a solution for NFPs looking to unlock tied up funds.

In this session we will look at the circumstances of how funds commonly become tied up and what can be done to unlock them.


This event is proudly sponsored by:



Speaker
Christina Flourentzou
Associate - Private Client Services
Piper Alderman

Christina is an Associate in Piper Alderman’s Private Client Services team. She has significant expertise and experience in the specialist areas of deceased estates and family or charitable trusts. Christina works closely with a range of Not for Profit organisations, including charities, universities and schools advising on complex trust structures, how to defend bequest claims and how to access charitable bequests where the stipulated application is no longer feasible.

Christina was the first practitioner in South Australia to complete the Applied Masters in Wills & Estate from the College of Law in New South Wales. She is also a committee member of the South Australian Law Society Succession Law Committee and STEP South Australia.
 
Location & Date
Tuesday, 26 July 2016
7:15 am - 9:00 am
Piper Alderman
Level 16, 70 Franklin Street
Adelaide, SA
Pricing

Member $20
Staff of Organisational Member $25
Non-Member $30

New Registration