Gift in Will – Charitable Bequests
Consider leaving a lasting impact. Pledge a Gift in Will today to support causes dear to your heart, ensuring your legacy continues through charitable contributions. Secure the future you believe in.
What is a bequest or gift in Will?
A bequest, commonly referred to as a gift in a Will, denotes a charitable contribution designated in your testamentary document. This provision allows for the allocation of assets to an individual, not-for-profit organisation, or charity of your choosing, as specified in your Will.
What type of gifts can you leave in your Will?
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A residual gift
Once you've taken care of your family and loved ones, you have the option to share all or a portion of the remaining estate (residue) with Waverley Helpmates. Your generosity can truly make a positive impact!
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A percentage gift
You have the flexibility to designate a chosen percentage (anywhere from 1% to 100%) of your entire estate to Waverley Housemates. It's a simple yet impactful way to support our cause!
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Whole of estate
You have the wonderful option to leave your whole estate to Waverley Helpmates if you wish. Your generosity can make a significant difference!
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A set amount
You can decide to leave a specific amount of money. To ensure that the value of your monetary gift stays consistent over the years, it's a good idea to ask your solicitor about index-linking it. This way, your thoughtful gift will maintain its impact!
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A specific item
You have the option to leave behind specific valuable items, like shares or real estate. Your thoughtful choices can make a lasting impact!
Want to talk about leaving a bequest?
Explore the power of philanthropy. Contact us today to learn more about contributing a Gift in Will and discover how your legacy can make a lasting difference. Let's discuss how you can leave a meaningful impact for generations to come. Reach out now to start this transformative journey.
Frequently asked questions about gifts in Wills
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A bequest is synonymous with a gift in a Will. In Australia, these terms are frequently used interchangeably.
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Australia does not impose inheritance or estate taxes. While contributions to charities holding deductible gift recipient (DGR) status are eligible for tax deductions, it's essential to note that bequests, being integral to your Will, are handled differently and do not qualify for tax deductions.
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Facilitating a bequest to Waverley Housemates in your Will is a straightforward process that involves three key steps:
1. Deliberate on including a gift in your Will and specify the type of gift you intend to leave (a residual gift is often recommended).
2. Arrange for the creation or update of your Will. Although self-writing is an option, we advise seeking professional assistance from a solicitor, financial planner, or accredited Wills and estates specialist.
3. During the Will creation or update, document the bequest in your Will. If you already possess a Will, a seamless addition can be made through an update or the inclusion of a CODICIL (a legal provision).