ABSTRACT
As well as there being a record number of new charities each year there have also been created in our society a record number of millionaires. The charitable trust was originally created to be a mechanism through which wealthy individuals could transfer their fortune and leave it in perpetuity. The millionaires of the twenty-first century do not seem to have followed their predecessors in creating charitable trusts, as with some notable exceptions most new charities are fund-raising with no permanent endowment. We do not believe that the charitable trust will see a renascence with ‘dotcom’ or ‘lottery millionaires’ choosing such vehicles if they decide to give money to charity. It is easier and involves no public scrutiny or accountability to simply Gift Aid such donations.
