What is a bequest?

A bequest is a gift made in your Will. You can make bequests to individuals, companies, associations or charities. A bequest to the Australian Cancer Research Foundation (ACRF) is an investment for life. Making a bequest may be as simple as adding a Codicil to your existing Will, but seek the advice of your solicitor. Full capital gains tax relief may be available to your estate for bequests made to certain charities, including the ACRF.

Types of bequests

A bequest to the ACRF may be:

  • a specific bequest: the gift of a specific sum of money or nominated asset such as a house or other land, shares and other investments, life insurance, works of art or other valuables.
  • a bequest of your entire estate or a specified share or percentage of your entire estate (after all debts and expenses have been paid).
  • a residual bequest: what remains of your estate after all debts and expenses have been paid and other gifts distributed or a specified share or percentage of your residuary estate.
  • after a life interest: when property, such as a house, is left to a beneficiary to occupy or receive income from during their lifetime (or another specified period) and then passes to the ACRF.

We recommend that if you wish to make a bequest to the Australian Cancer Research Foundation, you discuss it with your solicitor (The Public Trustee, State Trustees in Victoria and trustee companies will also assist with preparation of Wills).

You may have a preference for the way your bequest to ACRF will be used. You might wish to make a gift in memory of a particular person. Or you may want the ACRF to hold your gift on trust to ensure that it is used to fund a particular type of research. Because the ACRF is a charity, such trusts can be perpetual. We recommend discussing your ideas with us, so we can help you find practical ways to achieve your wishes.

Contact us

If you have any questions regarding a bequest to the ACRF or if you would like to discuss anything further we would be more than happy to hear from you.

Please contact Lee Christian on 1300 884 988 or lchristian@acrf.com.au.

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