What is a bequest and how do I leave one in my Will? Posted on January 31, 2022February 23, 2023 by Isabelle Dunster A bequest is a gift passed to an organisation or individual as part of your Will, a legal document that outlines your wishes when you pass away. It is the legacy you leave behind when you pass away, and can have a lasting impact on the lives of others. How does a bequest work? All your financial assets, savings, properties, belongings, assets (like stocks and bonds) form what is known as your estate. When you pass away you can choose how you would like to divide up your estate with the executor of your Will. A person or organisation you choose to leave a bequest to is known as a beneficiary. What are the different types of bequests? There are four main types of bequests you can leave in your Will: 1) Residual: This is the remainder of your estate after you leave gifts to loved ones 2) Percentage or fractional: This is a gift expressed as a percentage of your estate 3) Pecuniary: This is a specific gift that can be money, property, stocks or shares 4) Whole estate: This comprises your entire estate Who can I leave a bequest to? You can choose to leave a bequest to a person or organisation like ACRF, or multiple people and organisations, depending on how you would like to divide up our estate. When making the decision of who, or what organisation, to leave a bequest to, it is important to consider the legacy you would like to pass on to future generations. Safeguarding your loved ones, progressing the causes you’re passionate about, and leaving a lasting impact on the lives of others, are all important considerations to make when leaving a bequest. To learn more about leaving a bequest or gift in your will, please visit our Gifts in Will page, where you can download a free Bequest Info Booklet. How do I leave a bequest? A bequest will need to be written into your Will. If you have a pre-existing Will, you will need to update the Will wording to include a bequest to a loved one or organisation. If you don’t 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 annual Wills Days. 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. 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. For more information and to book, visit our Wills Days 2023 page. Why make a bequest to a charity? There are plenty of reasons you might choose to leave a bequest to a charity in your Will. A bequest to charity is a powerful way to leave behind a lasting impact in your honour or in the memory of a loved one. It’s the last gift you’ll give to the people and causes who need it most. While leaving a gift to family and friends has the obvious benefit of ensuring your loved ones are looked after when you pass away, leaving a bequest to a charity in your Will can positively impact the lives of people you’ve never met, who you may share a common bond with. For example, many people who leave a bequest to ACRF have a lived experience of cancer or have a loved one who has been impacted or died from the disease. Related reading: How to Leave a Gift to Charity in Your Will How do I leave a bequest to ACRF? ACRF is humbled by all our amazing bequestors who choose to leave a gift to ACRF in their Will. Our bequestors have backed brilliant cancer research, helping to give scientists access to the cutting edge technology that drives innovation, ultimately saving millions of lives. At ACRF we have a Planned Giving Manager dedicated to ensuring your wishes are reflected in your will when you pass away. Please contact Jo Meredith, by phoning 1300 884 988 or emailing bequests@acrf.com.au to learn more.
The importance of bequests in funding world-class cancer research Posted on March 5, 2012February 25, 2018 by Carly du Toit The Australian Cancer Research Foundation (ACRF) would like to take the opportunity to comment on recent stories in a number of news publications regarding Gifts in Wills. The ACRF has long been a recipient of generous bequests from Australian individuals, some of which have entirely funded grants to world-class research centres. For example: $2.4 million awarded to the Western Australian Institute of Medical Research, for the development of a world-class cancer imaging facility. Click here for more on this grant. $3.1 million awarded to the Children’s Cancer Research Institute Australia, to create a comprehensive Drug Discovery Centre for Childhood Cancers. Read more about the CCIA grant here. Without generous bequests such as these, progress in Australian cancer research would be significantly hindered. A bequest is an incredible legacy that many Australians like to leave behind. Any individual who pledges a bequest to the Australian Cancer Research Foundation is very important to us and, if they so wish, we keep in regular contact with them. Continue reading “The importance of bequests in funding world-class cancer research”
Research grant at WAIMR named in memory of the Late Kevin McCusker Posted on May 2, 2011February 25, 2018 by Carly du Toit The ACRF Board and staff would like to extend their heartfelt condolences to the family of the Late Mr Kevin McCusker, and thank them for supporting his most generous bequest to cancer research. To honour Mr McCusker’s significant donation to ACRF, a research grant awarded in 2010 has been named in his memory. Mr McCusker’s donation in his Will will leave a lasting legacy through the provision of a world-class imaging hub for cancer diagnosis and management at the Western Australian Institute for Medical Research (WAIMR). The Director of WAIMR, Professor Peter Klinken, is thrilled to support the naming of this $2.4 grant in memory of Mr McCusker. Continue reading “Research grant at WAIMR named in memory of the Late Kevin McCusker”
ACRF thanks the Late Mrs Alma May Rash Posted on January 31, 2011February 25, 2018 by Carly du Toit A very significant donation by the Late Mrs Rash in her Will has enabled ACRF to fund new research facilities throughout Australia. New research grants totalling $8.5 million, which were announced in November 2010, would not have been possible without her generosity. Thank you Mrs Rash for this most generous donation. Every dollar of the Late Mrs Rash’s donation is being used for research. For more information on remembering cancer research in your Will, please visit our bequests page.
