FAQ – FREQUENTLY ASKED QUESTIONS
What is the Waterlow-Heuston Kids Trust?
The Waterlow-Heuston Kids Trust is a trust set up to receive donations for the Waterlow-Heuston children after the tragic deaths of the children’s mother Chloe Waterlow, and their grandfather Nicholas Waterlow, in Randwick, Sydney on 9 November 2009.
Where does the money go?
All the money donated to the Waterlow-Heuston Kids Trust is held on trust for the benefit of the Chloe and her husband Ben’s three children: Will aged 4, Ruby 3, and baby James just 4 months old and still breastfeeding, at the time of Chloe’s tragic death.
The intention of the Trust is to alleviate the family’s immediate financial pressures so Ben can devote at least the next few months to helping his kids adjust to life without their mum. This will include basic necessities of life, food, nappies, formula, household and mortgage expenses, etc.
Who decides how the money is spent?
The Trustee decides how the money is spent in accordance with the terms of the Trust Deed, which limits all dealings with the trust property to be for the benefit of the Children. All the money donated will be held on trust for the benefit of the children in a trust account established and maintained for that purpose by a Solicitor who is a family friend. The money is then transferred to a trustee company account from which it will be managed and administered by an independent board of directors of a corporate trustee who will have the discretion to apply the capital and income of the trust for the benefit of the children.
Chloe’s husband Ben is not a director of the Trustee company but he may of course make recommendations to the board as to the children’s needs from time to time and the board may make grants of money to Ben to spend for the benefit of the children.
Who appoints the Trustee
Under the Kid’s Trust Deed, the Children’s father Ben has the power to appoint the Trustee. He can not appoint himself as Trustee.
Who is the Trustee?
The Trustee is ‘Waterlow Heuston Pty Ltd’ a company registered with ASIC. Ben Heuston is the sole shareholder of the Trustee company, with the power to appoint directors. Ben can not be a director, but he may of course make recommendations to the board as to the children’s needs from time to time and the board may make grants of income and capital of the trust to Ben to spend for the benefit of the children. Russell Grigg and Robin White are currently the two directors appointed to the board of the trustee company.
How to contact us
If you have any questions about the Trust, please email us at:
Email: info@waterlow-heustonkidstrust.org
How can I donate?
By cash, cheque or electronic funds transfer (EFT) online from your bank account to the Kid’s Trust Account which due to banking laws is in the name of the Trustee, Russell Grigg (for more information see ‘Why is the bank account in the name of Russell Grigg?’ below):
| Bank: | Commonwealth Bank |
| Account Name: | Russell Grigg |
| BSB: | 062 000 |
| Account No: | 13654704 |
Additonal information for international donations:
Address 48 Martin Place, Sydney, NSW, 2000, Australia
SWIFT Code CTBAAU2S
Please make cheques payable to: ‘Russell Grigg ATF Waterlow-Heuston Kids Trust’
Why is the bank account in the name of Russell Grigg?
The laws about anti-money laundering prevent banks from opening accounts in the name of a trust due to the usual difficulty of identifying trust beneficiaries and the widespread practice by criminals of using trusts to try to hide funds for tax purposes, or launder money derived from criminal activity.
As a result it is necessary to hold the account in an individual’s name. Russell Grigg is a personal friend of Ben & Chloe, a Director (appointed by Ben) of the company appointed as trustee of the Kid’s Trust registered with ASIC (Waterlow Heuston Pty Ltd) and a Solicitor and current member of the Law Society of NSW.
Is my donation private?
Yes. Your donation is completely anonymous and private. If you wish to receive updates about the Waterlow-Heuston family you can submit your email address. All information you provide us will be kept private in accordance with Privacy Laws. We will not conduct any marketing to you or send any emails to you unless you have requested us to do so.
Can I donate cash?
Yes. You can deposit cash directly into the Trust account at any branch of the Commonwealth Bank. See ‘How can I donate?’ above.
How do I donate by cheque?
Please make cheques payable “Russell Grigg ATF Waterlow-Heuston Kids Trust” and deposit with any branch of the Commonwealth Bank. See ‘How can I donate?’ above for the bank account details.
Is my donation tax deductible?
Generally speaking your donation will not be tax deductible. But you should seek your own tax advice specific to your individual circumstances.
Will I receive a receipt?
We do not generally issue receipts. You should receive a transaction receipt when you make a payment from either our online payment system, your EFT payment system, or by deposit directly at a branch of the Commonwealth Bank. The Waterlow-Heuston Kids Trust is not an eligible Deductible Gift Recipient for tax purposes and so can not issue ATO authorised tax deductible receipts.
If you have any other quesitons, please email info@waterlow-heustonkidstrust.org