David and Rosemary* are a retired couple in their early 60s with adult children who are settling down and having their own children. David formerly ran a business while Rosemary raised their family.
The couple is debt free, owns their own home valued at $700,000 along with several rentals, a holiday home and land worth $3 million in total. They have term deposits worth $500,000 and are part owners of an inherited family business worth $20 million.
David and Rosemary's children have already been gifted properties and the inherited shareholding in the family business provides ample annual income for their modest needs. They wanted to use their excess annual income of $500,000 for charitable purposes through ethical investments but were not sure how to start.
We set up a "green/sustainable" investment portfolio for accumulating their excess income, instead of the couple continuing to purchase real estate. Through a donor-advised fund, we set up a tax-free charitable account for David and Rosemary and their family to gift into and make donations from. We also implemented a strategy around accumulating funds and prudent distribution and grants.
Bloomsbury engaged a philanthropy consultant to develop the couple's ideas for charitable assistance to the local environment, scope the opportunities and engage with existing entities and organisations to ensure their donations will have a positive, lasting impact.
We ensured David and Rosemary's legal affairs were reviewed and entities updated to ensure the correct governance was in place.
With their own modest affairs catered for, David and Rosemary are now happily focused on their charitable and environmental causes with the ongoing engagement of their wider family.
* Names have been changed to protect privacy
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