How to leave a gift in your Will
Step 1: Make or update your Will
Your Will is an important document that must be properly prepared and executed. Planning this process will ensure your wishes are carried out.
To make a Will, we recommend you consult a solicitor who is experienced in Wills and estates. Although the costs may vary, you can get an estimate to help you make the right choice. Alternatively, you may consider creating the Will yourself if your estate is not complicated. We recommend you seek professional advice to ensure your Will is valid.
If you already have a Will, you can easily update it to include a bequest by contacting your solicitor.
Step 2: Decide on your gift
There are three main ways to leave a bequest in your Will. Your solicitor or financial advisor can advise you on the best option for you.
- Fixed sum of money gift – also known as a ‘pecuniary bequest’, this gift is in the form of a specified cash amount, for e.g. $25,000.
- A fixed specific gift – a gift in the form of other property such as: shares, vehicles, boats or items of jewellery.
- Residuary gift – this means leaving the remainder (or percentage thereof) of your estate to ActionAid Australia after family, friends and other beneficiaries have adequately been provided for.
Step 3: Suggested wording for your Will
If you are passionate about including a gift to ActionAid Australia in your Will, please include the wording below:
- ‘I give to ActionAid Australia Pty Ltd ACN 001 251 930 (formerly Austcare) currently of 10 Mallett Street, Camperdown, NSW 2050, free of any mortgage, debt, duty or tax,
- [Choose and insert the appropriate statement from the list below]
- the whole of my estate (ActionAid Australia receives the whole of your estate after executors have paid out debts)
- (insert number) percentage of my estate
- the rest and residue of my estate (ActionAid Australia receives what is left after you have made specific gifts, to other beneficiaries)
- the amount of $ (insert an amount)
- My (insert specific asset such as “my property located at …” or “all of the funds in my… Bank Account with account number …”)
- for its general purposes AND I DIRECT that a receipt issued by an officer of ActionAid Australia or an officer of the nominate charity shall be a sufficient discharge to my Trustee(s)/Executor(s) who will not be bound to see its application.
- If, after my death, ActionAid Australia has amalgamated with another charity or changed its name, then I DIRECT my Trustee(s)/Executor(s) to pay this legacy to that charity or new entity.
- If ActionAid Australia has ceased to exist then I DIRECT my Trustee(s)/Executor(s) to pay this legacy to the charitable organisation which my Trustee(s)/Executor(s) consider most nearly fulfils the objects that I intended to benefit.
Step 4: Communicate your final wishes
We believe it is an important step to talk to family and loved ones about your Will – communication will ensure your final wishes are carried out as you wish. Let your family know that an enduring gift to ActionAid Australia is important to you and advise your executors and guardians of your wishes.
If possible, please let us know that you intend to make a gift to ActionAid Australia in your Will. It will help us personalise our communication and report back to you on the projects and areas you are most passionate about. It gives us an opportunity to plan our programs as well as invite you when we have special events and updates