Bequests

//Bequests
Bequests 2017-10-04T13:43:16+00:00

Leave a legacy

Leaving a gift or bequest in your Will to ACF is a powerful way to create a lasting legacy by providing ongoing support to the causes and communities you care about.

What is a bequest?

A bequest is the gift of an asset or other right provided as part of a Will, intestacy or settlement. Bequests may be for a particular asset, amount or percentage of an estate.

A bequest in a Will can be left in a number of different ways:

  • Pecuniary bequest – a fixed amount specified in a Will.
  • Residuary bequest – the remaining value of an estate when all other bequests to family and friends have been made and liabilities have been paid.
  • Reversionary bequest – allows a surviving partner to benefit from your estate during their lifetime and then for the balance of the estate to be paid to ACF on their death.

Why leave a bequest to ACF?

Bequests help us provide ongoing support to causes and organsations that are aligned with your values, extending the impact of your giving beyond your lifetime.

Dennis Altman established the Assia Altman sub-fund in 2010. He says his recent decision to include a gift in his will to ACF was an easy decision to make.

“The reason I chose to leave a bequest to ACF rather than one specific charity is because I believe if you want to leave money for the causes you care about, you have to be very careful in terms of the organisations you name. The charity that might seem terrific today might not even be around in the future, or perhaps the aims of the organisation will have changed dramatically.”

“ACF has a clear sense of my priorities which makes me feel confident that they can ensure the money goes to the right organisations.”

 

VIEW OUR BEQUEST HONOUR ROLL

Types of bequests

People wishing to include a gift or bequest in their Will to Australian Communities Foundation can select one of three options:

1. A gift to the ACF Impact Fund
Your gift can be placed in the Impact Fund which supports initiatives that focus on national issues and new approaches to tackling complex issues affecting Australian communities.

2. A gift to an existing sub-fund
Your gift can be placed in an existing named sub-fund, either your own, or another whose stated areas of interest you wish your gift to support.

3. A gift to establish a sub-fund.
Your gift can be used to establish a new named sub-fund with specific areas of interest or organisations identified for future granting.

To help you get started, we have outlined the options and the suggested wording for your Will in our Bequest Factsheet.

DOWNLOAD OUR BEQUEST FACT SHEET

Next steps

We recommend that you seek advice from a solicitor to ensure that the wording of your Will reflects your exact wishes. You may also wish to speak to an accountant with respect to taxation and financial matters.

If you choose to leave a bequest to ACF, we ask that you or your solicitor provide us with notification so that we can discuss with you how your bequest can be targeted to ensure its long term viability and impact.

If you need legal advice, ACF is privileged to have a number of lawyers that support us who are all experts and experienced in estate planning. Their contact details are provided for your convenience:

Emma Woolley, Hall and Wilcox, emma.woolley@hallandwilcox.com.au

Daniel Kelliher, Russell Kennedy, dkelliher@rk.com.au

We are happy for you or your solicitor to contact us on 03 9412 0412 if you have any queries.