UKC

Leaving money to bolt funds in will?

Jpac 24 Mar 2021

Please move to the correct forum. I couldn't post in the right forum as an unregistered member. Thanks.

I've recently been required to write a will, and don't have a lot of family to consider when leaving money behind. I've allowed for some close friends, but have a significant sum left which I was considering leaving to charity. Climbing is a huge part of my life and my next thought was to spread the remainder between the bolt funds in my favourite climbing areas. However I was unsure the best way to do this, and if anyone had done similarly before. I'm aware most run on donations, but are not registered charities and was worried about how a large sum would be managed with transparency. Basically I'm worried about the money being used effectively and not squandered. Would it be possible to leave it directly to a bolt fund even though they are not registered? Or would a person have to be named? Any input greatly appreciated. Thanks

 daWalt 24 Mar 2021
In reply to Jpac:

If it's that much money that you would be concerned over it's appropriate use and administration; then, to be honest, there are probably better things you could leave it to. (potentially even some other charity / voluntary organizations [albeit more loosely associated with climbing in the broader sense] that deal with accident response and such like.....)

needless to say, I very much hope this is all academic anyway. good luck and look after yersel'.

 Morty 24 Mar 2021
In reply to Jpac:

> Would it be possible to leave it directly to a bolt fund even though they are not registered? Or would a person have to be named? Any input greatly appreciated. Thanks

I canz helped you here. Alls you need to do is send you bank detailz to my cousin General Money Money Money who resides offshore in a bolt funding haven that will mean ALL of your money is going to the boltZ! PM me with your bank detales and we shall arrange to make you happy. 

 Hardonicus 24 Mar 2021
In reply to Jpac:

I'd be more concerned that your legacy would include the perputation of convenience climbing and the erosion of the British trad ethic.

Post edited at 18:13
 Morty 24 Mar 2021
In reply to Hardonicus:

> I'd be more concerned that your legacy would include the perputation of convenience climbing and the erosion of the British trad ethic.

Underrated comedy reply.

 spenser 24 Mar 2021
In reply to daWalt:

MRTs, the BMC's Access and Conservation Trust, Urban Uprising and Black Dog Outdoors all strike me as being sensible charities tied into climbing/ mountaineering if OP is uncertain about donating to a bolt fund given that most of them don't seem to be set up as charities.

 daWalt 24 Mar 2021
In reply to spenser:

> MRTs,

thanks, that was what i was trying to hint at. possibly a bit too obtuse.....

I'll give a fuller answer: I'm pretty sure you can leave whatever you want to whoever you want, provided the executioners can correctly and unambiguously understand it and put it into action.

distribute money to local bolt funds - go for it. you'll have to do your own background research as to who the fund / fund managers are, or if it's just a charity tub on the front desk of the local climbing wall. my earlier post was trying to say I wouldn't leave any more than you would willingly leave to any fund to spaff up the wall as they want.

I believe stipulations, limitations etc. are possible, but would add a burden onto the executioners to carry out, and potentially significant costs in admin, legal fees or whathaveyou.

Post edited at 19:44
 daWalt 24 Mar 2021
In reply to Jpac:

I know:

"the remainder of my estate to be spent developing new bolted sport routes; the location of which to be agreed by consensus. And free popcorn for all !!"

Eagle 24 Mar 2021
In reply to Jpac:

You probably can't do this and I'd recommend you get some legal advice before you try. Bolt funds aren't legal entities. You can't leave money to something that doesn't (legally) exist. If you leave the money to a person with the requirement that it's used for a specific thing (like bolting) you're effectively trying to set up a purpose trust, which would usually be invalid for lack of identifiable beneficiaries ("the climbing community" is too vague). You can leave money to a charity, but bolt funds aren't charities.

 yorkshire_lad2 25 Mar 2021
In reply to daWalt:

There are various charities around that you can make a tax effective donation to in your will.  Local MRTs, or perhaps the mountain rescue council https://www.mountain.rescue.org.uk/ or even the BMC (has a charitable arm).  Or you can make a donation to any organisation you like (doesn't have to be charitable but charitable is tax effective).  If you bequeath money to a charity, you can express a wish what they do with the money, but AIUI that wish is not binding.

IANAL

I loved the bit about "executioners" (whether intentional typo or predictive text or not; they do execute the will after all, but most people call them executors)

 Offwidth 25 Mar 2021
In reply to yorkshire_lad2:

There should be no problem donating to bolt funds though and they need money. For information the main BMC charity is The Access and Conservation Trust

https://www.thebmc.co.uk/bmc-access-conservation-trust

There is also a BMC Land and Property Trust. This is linked to the work of the BMC Land Management Group. The BMC owns and manages many crags, including most of the sport climbing in Horseshoe.

https://www.thebmc.co.uk/bmc-owned-and-managed-sites

There is also the linked Mountain Heritage Trust.

https://www.mountain-heritage.org/

 chris_r 25 Mar 2021
In reply to Jpac:

If you have significant disposable income you could consider donating some of your estate in advance to specific funds. That way, you (hopefully) have many years to reap the benefits of your generosity.


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