What are Charitable Trusts?
Charitable trusts are irrevocable trusts set up legally for charity purposes. It is essentially a way to set up assets for charity and beneficiaries. When the trust is set up and the value of assets to be given is determined, the assets are converted and the trust is set up and is irrevocable no matter the circumstances.
All around the world philanthropists and other individuals understand the benefits of supporting charities or setting up trusts and how much effect it holds. Here are 5 reasons to support charitable trusts.
- The feeling of content and fulfilment
Do you remember the way you felt the last time you did a good deed? it could have been helping out a person in need or supporting someone be it financially or emotionally, overall just offering some sort of comfort to the needy can influence your mood and make you feel good.
Furthermore, it has been proven that helping or providing support to people promotes some psychological boost in the brain that links to happiness. Whether you are volunteering or supporting a charitable trust, it all gives you a sense of fulfillment and empowerment.
- Every support is impactful
No matter how small you think your support is, it makes all the difference. You might not be donating millions or volunteering halfway across the world but hang in there because your support is important. Think of it this way, even a single naira donated gets us closer to putting food on the table for the hungry or education to underserved communities, so it’s really important.
- The domino effect
A domino effect is a cumulative effect produced when one event produces a chain of similar events. This holds for both positive events and negative events.
Supporting a charitable trust is contagious so you can spur others to do the same and have your friends and family wanting to support to. You never know who is watching but trust me they are and you can be an influencing factor to them.
- The world is slowly healing
No good deed goes unnoticed; the world is slowly becoming a better place, it might take a while to make it impressionable but it’s worth the try in other to make the world a better place for everyone.
- It is always paid forward
Most philanthropists at some time in their lives had someone that took a chance on them and they were able to pay it forward by helping others, so also by helping people there is a strong probability that they will also have the inclination to help others too.
There are countless reasons why you should support charitable trusts, or even set up if you have the capacity to do so but one major reason you should do so should be to ultimately create a better world.