You can specify any amount or percentage of your estate that you feel comfortable gifting to ACF after providing for your family and loved ones. A gift in your will doesn’t impact your wealth during your lifetime and only takes effect when administering your estate. Every gift of any size will make a difference to the impact of our work.
We recommend that you seek independent professional legal advice when finalising the wording in your will. We also suggest talking through your intentions with your family and loved ones.
Here are some ways you can leave a gift:
A residual gift allows you to provide for your family and friends first before leaving the remainder of your estate to ACF. The value of a residual gift is determined after loved ones have been provided for and all expenses and claims have been paid. As your estate increases in value, so does your gift to ACF. Inflation will not diminish the value of a residual gift.
Percentage or nominated portion
You can divide your estate among a number of people and/or organisations. Your gift to ACF can be a percentage or proportion of the whole of your estate, or of what is left over (the residue) after individual gifts have been made.
If you feel undecided about leaving a gift to ACF in your will because you are unsure how much money will be available in the future, a residuary gift or nominated percentage can overcome this hurdle. There is no need to nominate a specific value for your gift.
Specific gift or asset
You can leave to ACF a specific asset such as property or shares. Gifts of shares and other property do not attract GST for ACF or the estate. ACF can also be the beneficiary of a life insurance policy or superannuation fund.
Establishing a trust in your will allows a spouse or other nominated person to use your property and to receive income derived from your estate during their lifetime, after which time the property can pass to ACF.
You can leave a specific cash sum. Note though, that in the time between making your will and when the sum is received by ACF, the value of the gift can be diminished by inflation, or not have grown as the value of the estate has increased.