A Bequest is a gift made in your Will to a person or an organisation.
By leaving a Bequest to Gateways Support Services you can be assured that even after you have died you are contributing greatly to our ability to enhance and extend the services we offer to children and adults with disabilities, and their families.
Types of Bequests
There are four types of bequests that you can make through your Will.
Residual Bequests. This Bequest is preferred by Gateways Support Services because it can be used to address urgent priorities. A Residual Bequest is a gift of what remains of your estate after all other gifts and taxes and debts have been satisfied.
A Specific Bequest. This specifies the particular gift by way of a specific amount of money, a portfolio of shares, piece of property or specific life insurance policy. When considering this type of bequest it is important to consider inflation and the impact this may have on the value of your gift over a period of time.
Percentage or fractional Bequest. This is a bequest expressed as a percentage or fraction of your estate (after all debts and expenses have been paid).
- The Whole of your Estate. A Bequest of someone's entire estate usually occurs when there are no surviving relatives and the benefactor wishes to achieve something significant with their bequest.
Do you need a solicitor?
A Will is a legal document and will be the only way that will ensure your wishes are carried out. If you do not leave a Will then the law sets out who will benefit from your estate.
Gateways Support Services strongly recommends that you consult a solicitor for advice when formulating your Will.
Whether making an enquiry on behalf of a client or writing your own Will, please use the exact wording below, which is necessary to avoid mis-identification between Gateways Support Services and other similarly named organisations.
The correct wording for leaving a gift to Gateways Support Services in a Will is:
“I give to Gateways Support Services ABN 98 140 810 929 (the whole of my estate) OR (a specific sum or piece of property) OR (a percentage of my estate) OR (the residue of my estate) free of all duties, for its general purpose. I DECLARE an official receipt from a Public Officer of Gateways Support Services shall be a full and sufficient discharge to my Executor.”
For more details about Wills and Bequests contact the Gateways Corporate Services Manager via Contact Us or on 5221 2984.