Regardless of how much you own, having an up-to-date Will is arguably one of the most important things you can do for yourself and your family. Not only can a Will legally protect your spouse, children and assets, it can spell out exactly how you would like things handled after you have passed. Making a Will is the best way of providing for those you leave behind. By making very precise decisions in relation to your property whilst alive, your Will alleviates worry for your family and makes life just a little easier at a very difficult time.
Do you have a question about leaving a charitable bequest to Communities at Work? Check to see if your question is answered below. You can also contact us using our Get in Touch form here.
Your Questions Answered
If you do not make a Will you die “intestate”. That is, your property will be distributed according to a formula, which may not be your intention. Your children, spouse or partner may not receive the protection you would have desired. The process of finalising your estate without a Will becomes complicated, costly and time-consuming for the people left behind.
A bequest is an act of giving or leaving something through a Will. Put simply, it is a donation left in your Will to a charity of your choice. It can be the whole amount, a specific amount or a percentage of your estate. Bequests are a wonderful way to leave a lasting legacy, providing support for generations to come. Leaving a bequest to Communities at Work is a practical and powerful way to make a difference in the lives of future generations in the ACT and Capital Region.
There are three main types of bequests:
- Specific Bequest – Percentage of Estate
This type of gift allows you to leave a portion of your estate to Communities at Work. This gift will keep up with inflation and will have the most impact.
- Residuary Bequest
After you have taken care of your loved ones, a percentage of the remainder of your estate, known as your residuary estate, is the most effective way to give as it keeps up with inflation; the amount you plan to share today will be the same in the future. As little as 5% or 10% can make a huge difference.
- Pecuniary Bequest
Also known as a pecuniary gift, this type of gift allows you to leave a fixed sum of money, shares, or property to Communities at Work.
A gift in your Will would contribute to a range of services and supports that help families and individuals living in ACT and Capital Region – including education, support services, and community development that will change lives into the future.
It’s important to take your time because writing a Will is a big decision, but once you’ve made your decision, it’s simple. We recommend you consult your solicitor who can provide an estimate of cost and help you write your Will. Alternatively, you could use an online option to create a simple Will. We’ve partnered with Gathered Here, an online Wills and Estates law firm, who host a free and easy step-by-step online Will writing service. It takes less than 10 minutes Write your free Will now.
You don’t have to be wealthy to remember a charity in your Will. You just have to make a simple decision. Whoever you are, whatever your situation, even with a small gift you can make an enormous and lasting difference in the lives of vulnerable people.
Legacies provide Communities at Work with vital funds for long-term planning and development. Leaving a legacy to a specific type of work or location might mean that we cannot fulfil your wishes if we are no longer doing that specific work or in that specific area in the future. Keeping your gift for general purposes enables Communities at Work to use it where the need is the greatest at the time.
Your Will records your wishes at a particular point in time. It is advisable to regularly review your Will as your circumstances change so that it accurately reflects your current wishes. If your current Will still reflects most of your wishes, and you simply wish to make some additions or small changes, your solicitor can help you create a Codicil. It is important to consult your solicitor to ensure the original Will is not affected.
This is entirely up to you. However, letting us know about your gift can help us plan our future work. Most importantly, we’re very keen to show our gratitude to you and keep you informed about our work with the Canberra community. Thank you.
We know that many people don’t have a Will because they don’t know how to go about it, they think it’s expensive and time-consuming, but Gathered Here solves that problem. Established in 2016, Gathered Here provides products and services to help people prepare for and manage end-of-life situations including Wills, Probate and Funerals. Their purpose is to redesign the death industry to be approachable and accessible and to give people the knowledge and tools they need to navigate everything relating to death with confidence and certainty.
To keep things we simple. We’ve provided some helpful wording that you can share with your solicitor in order to include a gift to Communities at Work.
“I give, devise and bequeath, free of all duties and taxes *<_________> to Communities at Work (ABN 19 125 799 859) of 245 Cowlishaw St Greenway ACT 2900 (or its successor organisation) for its general purposes. An authorised receipt from Communities at Work will be a sufficient discharge for the executor(s) or trustee without seeing the final distribution.”
*Insert one of the following:
– The whole (or ___%) of the residue of my estate.
– The whole (or ___%) of my estate.
– The sum of $(amount).
– (Details of a particular asset – such as shares or property).