How to leave a gift to charity in your Will
A growing number of Australian’s are leaving a gift to charity in their Will. A gift in Will, also known as a bequest, is the donation you make when you include a portion of your estate, to a charity in your Will.
What can I donate to a charity in my Will?
There are many different assets that you can leave as a gift in your Will including:
- Cash, stock and bonds.
- Real estate properties and land.
- Personal property, like a car, jewellery or artwork.
- Non-probate asset, like your life insurance policy or superannuation account.
When is a good time to leave a gift in Will?
It is never too early to start thinking about leaving a gift in your Will. At the Australian Cancer Research Foundation (ACRF) we know that cancer, and other terminal illnesses, can be unpredictable.
It’s important to think about how to safeguard your assets and plan so that your final wishes will be fulfilled when you pass away.
What are the steps involved in leaving a gift to charity in my Will?
Including a gift in your Will is simple, and if you choose a charity like ACRF, there is a dedicated team to help you every step of the way. The steps of leaving a gift in your Will include:
Step 1: Contact the charity you would like to leave a gift in Will to discuss any questions you may have about leaving a gift in your will.
Step 2: Call your solicitor and make an appointment to create or update your Will to include a bequest.
Step 3: Based on the call with your solicitor, update the wording of your Will. Please see ACRF’s Will wording below as an example:
“I give to the Australian Cancer Research Foundation (ACN 002 774 727) of Suite 903, 50 Margaret Street, Sydney for the purposes of funding world-class cancer research, free from all taxes and duties, (here please specify your gift, eg. the sum of $X). I direct that the receipt of any director or other proper officer for the time being of that Foundation will be a sufficient discharge to my Trustees”
Step 4: Tell your loved ones what you have outlined in your Will. It’s important they are aware of your wishes. If you decide to include a bequest to ACRF, let us know, we’d love to connect over your generous donation, and find out if there’s anything we can do to support you.
What if I don’t have a Will?
If you do not have a Will, but are looking for an efficient and affordable way to create a simple Will that reflects your wishes, book in to attend one of ACRF’s community Wills Days. ACRF is hosting community Wills Days throughout March (NSW), May (QLD) and September (SA). For just $75 for an individual or $100 for a couple, a legal professional will provide a one-on-one consultation to draft a simple Will. For more information and bookings, visit our website. There is no obligation to leave a gift to ACRF in your Will, though should you choose to do so we would be very humbled. All fees will go toward backing brilliant cancer research.
How do I choose a charity to leave a gift in my Will to?
Leaving a gift in your Will is the legacy you will leave behind to future generations, so it’s important to consider your choice wisely. Of course, the decision to which charity you would like to leave a gift in your Will to is a personal choice, and one that must be considered carefully.
Often people who choose to include a gift to ACRF in their Will have lost a loved one to cancer or have been diagnosed with cancer themselves. They know first-hand the devastating impact cancer can have on people’s lives. These people have become our champions, as new and improved methods to detect and treat cancer would not exist if wasn’t for them.
Why should I leave a gift in my will to ACRF?
At ACRF, we know only brilliant ideas can tackle something as big as cancer. That is why we give scientists the technology, equipment and infrastructure they need for pioneering research.
ACRF bequestors have backed landmark projects such as the development of the world’s first cervical cancer vaccine. The vaccine protects against nine HPV types which are the cause of around 90% of cervical cancers in women. Now decades on, and thanks to a national immunisation program, Australia is set to be the first country to effectively eliminate the disease.
Your gift will go toward ensuring that future generations have better access to life-saving cancer detection, prevention and treatment.
Who do I contact about leaving a gift in my will to ACRF?
For more information on how you can leave a gift in your Will, click here, download our Bequest Booklet or contact ACRF, by phoning 1300 884 988
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