Create a legacy that lasts beyond your lifetime
A private ancillary fund (PAF) or giving fund in our public ancillary fund, the APS Foundation, can be a wonderful way to continue your philanthropic work after your death or to create a legacy by engaging future generations.
Private ancillary fund (PAF)
A PAF is a charitable trust controlled by a company as trustee, of which the PAF founder is normally a shareholder. The founder can leave their shares to someone in their will who will take care of the PAF when they pass away. As the funds are irrevocably gifted, whoever inherits the shares does not inherit the funds, but the right to appoint directors who manage the investments and make decisions about which charities the PAF will support.
We’d be delighted to talk you through the options if you don’t have someone you would like to leave your shares to in your will.
A giving fund in the APS Foundation
You can nominate a successor to continue your philanthropic work and make gift recommendations from your giving fund after your death, or can leave a statement of wishes with the trustee to continue your gifting program into the future.
You can also use your will to direct additional money to your giving fund. It is important that the clause in your will is worded carefully to help avoid unintended tax implications. Please contact us for more information.
"I don’t think of legacy in terms of public recognition, it’s more about transferring values and a sense of being part of a community and having broader responsibilities."
Rod Unsworth, the Unsworth Foundation
Engaging future generations
As well as helping to build a sense of social responsibility, involvement in the family PAF is a great training ground, where the next generation can learn all about board and fiscal responsibility.
Younger members of the family can work in partnership with professional advisers, be appointed as directors, and take part in both investment and gifting decisions. Some families will even appoint younger directors as the chair of their PAF.
APS has a range of services to support you to better engage the next generation in your family’s giving.