What is a Gift in Will?
A bequest or ‘Gift in Will’ is the donation you make when you include the Stroke Foundation in your Will.
Don’t you have to be wealthy to include a Gift in your Will?
Not at all. Many everyday Australians include charitable gifts in their Wills. They know they can look after both their loved ones and the causes that have been important during their lifetime.
Every gift – no matter its size, will help us continue our work to prevent, treat and beat stroke.
What if I already have a Will?
Your Will records your wishes at a particular point in time. It is advisable to regularly review your Will to ensure that it still accords with your wishes and deals effectively with your assets. There are also certain life events which should trigger a review of your Will such as the birth of a child or grandchild, marriage, divorce or the death of a beneficiary. 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’s important to consult your solicitor to ensure the original Will is not affected.
What type of gifts can I include in my Will?
There are a number of ways you can include a gift to the Stroke Foundation in your Will:
- A percentage or share of your estate (residual legacy)
- A specific sum of money (pecuniary legacy)
- The whole of your estate
Make sure you speak to your solicitor about which option will best suit you.
What if I need to look after my family?
Of course, we understand that taking care of your loved ones must come first.
This is why a residual legacy is a popular choice for many of our 700+ supporters who have included a gift to the Stroke Foundation in their Will. It allows you to first leave gifts to your loved ones and pay any financial commitments. It also automatically adjusts to changes in the value of your Estate.
Should I discuss my gift with my loved ones?
Yes, we recommend that you let your loved ones know about your gift so they understand why supporting the fight against stroke is important to you. It will also help ensure your final wishes are fulfilled.
How will my gift be used by the Stroke Foundation?
Your generous gift will go to the area of most need at the time. This could be research to find the next breakthrough in the fight against stroke, or on supporting Australians impacted by stroke. If you would like your gift to go towards something specific, please contact us to discuss this. It’s worth remembering though that most gifts in Wills aren’t received for many years so if you include a general gift it means we can fund the most critical work at that time.
Are Gifts in Wills to Stroke Foundation Tax-Deductible?
Not usually, although your bequest may be exempt from capital gains tax (CGT) if it includes shares, property, or other assets that are liable for CGT. Talk to your solicitor and financial adviser to find out how this may apply to you.
If you have another question or would like more information about Gifts in Wills - Get in touch