How to leave a gift in your Will
What is the correct wording to use for leaving a gift in my Will?
If you are interested in leaving a lasting gift to the Leukaemia Foundation of Queensland in your Will, refer to the suggested wording below to ensure your gift will be able to be used as you intended.
“I give and bequeath free of all duties (here state the amount/percentage or share/residue or assets to be gifted) to THE LEUKAEMIA FOUNDATION OF AUSTRALIA LIMITED absolutely for the general charitable purposes of the said Foundation and I direct that a receipt of the proper officer for the time being of The Leukaemia Foundation of Australia Limited shall be a good and sufficient discharge to my trustee/s.”
We also suggest including the below optional clause:
“The reason I am making this gift to the Leukaemia Foundation is because [........].”
(please identify connection with the Leukaemia Foundation).
I don’t have much money to give, is a gift in my Will still suitable for me?
Whether your gift is large or small it will be gratefully received. Even $1000 will make a valuable contribution towards supporting work of the Leukaemia Foundation.
What will a gift in my Will for the Leukaemia Foundation support?
The Leukaemia Foundation receives no on-going Government funding, and relies on the generosity of its supporters to fund patient support services and research. Your contribution will help provide accommodation to patients and their families who have had to relocate for treatment, fund research into new treatments for blood cancers, provide emotional support to people affected by a blood cancer, and more.
What do people typically give in a gift in Will?
Gifts in Will can be a specific monetary value, property or they can be a percentage of an estate or a share portfolio. Gifts in Will we have received in the past have included:
- 10% share of the whole estate
- 1/4 share of the residue of the estate
- 25% of share portfolio
- a specific gift (e.g. of $5000).
But I don’t need a Will yet, do I?
Whether you have few possessions or many, you should have a Will. It is a way of ensuring that your assets are distributed as you wish. You should also review your Will regularly to ensure it reflects your current wishes. You do not have to be elderly to start thinking about a gift in your Will. Many younger people are taking the opportunity to support a cause they feel passionately about when they create or review their Will.
I want to support the work of the Leukaemia Foundation but I don’t have much extra cash at the moment. How can I help?
A gift in your Will is a simple way of supporting the Leukaemia Foundation of Queensland without affecting your current lifestyle and financial situation.
Who do I need to tell about my gift in Will?
Consider talking with your loved ones about your plans to leave a gift in Will and discuss with them why our work is important to you. The Leukaemia Foundation of Queensland also recommends that you obtain independent legal advice from a solicitor or the Public Trustee when updating or making a new Will.
Do I need to tell the Leukaemia Foundation that I have left a gift in my Will?
If you have decided to leave a gift in your Will we would love to hear from you. Knowing about these gifts can help us to plan for the future. So often we only find out abou ta gift in someone’s Will after they have passed,and we feel sad in that we have not had the opportunity to say a genuine “Thank you” during their lifetime.
What are the Leukaemia Foundation’s charity credentials?
The Leukaemia Foundation of Queensland:
- is a charity registered with the Australian Charities and Not–For-Profits Commission
- has an ABN: 25 891 348 696
- is registered as a charity in Queensland – No. CH0726
- is endorsed as an income tax exempt charitable entity
- is endorsed as a deductible gift recipient
- is endorsed for GST concessions
(Endorsements are entered on the public register maintained by the Australian Business Registrar at abr.business.gov.au).