What is a bequest
A gift made available upon the Donor’s death by provision in their Will. A Bequest can be a specific sum of money, an item or piece of property or a percentage of an estate. (Philanthropy Australia)
When making a gift in your Will, it is important that your solicitor uses the correct clauses and terminology.
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How to leave a bequestIf you do not have a Will, then the first thing you need to do is obtain independent legal advice on creating one. Making a Bequest in your Will is a simple procedure, although when preparing or amending your Will consulting a Solicitor is always advised.
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Types of bequests |
Your solicitor or trustee company can provide you with more information, but in general these are the major types of bequests:
- Contingency Bequest means a Bequest made only when the executor of an estate cannot distribute the estate as planned in the Will. - Pecuniary Bequest means a Bequest of a specific sum of money. - Specific Bequest means a Bequest of a specific and severable asset or right given to a particular person or organisation. This could be property, shares, artwork, jewellery etc. - Residual Bequest means a Bequest of the residual of your estate after the specific and general bequests have been distributed |
How can it help? |
- The gift you may consider to leave to your Parish will greatly support to build and share resources in a just and compassionate way for future generations. This will ensure the continuity of the church and its good works long after - we are gone and this treasure is beyond any measure.
The gift you may consider to leave to the Priests Retirement Foundation will provide care and support of those who nurtured our faith to ensure they can receive the accommodation, health care and support they need in their retirement. - The gift you may consider to leave to The Melbourne Catholic Archbishop’s Charitable Fund will support the grants distributed to Catholic Community Agencies who offer essential services to our community across the Melbourne Archdiocese. - The gift you may consider to leave to a specific Catholic Community Agency will support an outstanding Agency that provides long term solutions and lasting change in our community. Please see the list of agencies here www.css.org.au Your Will is a final statement of the love you have for your family, God’s people and the Church. After you have provided for your family and friends, making a Bequest is a significant way to support a cause that is close to your heart and a reflection of your gratitude, faith and values. Making a Bequest, small or large, is a way to make the type of generous gift that you may not be able to make during your lifetime and a way to make a real and lasting difference to future generations. |
