Leave a Gift, Leave a Legacy
Common Steps to Leaving a Gift in Your Will
Speak with Your Loved Ones
Creating or changing your Will is a personal and important decision. It’s a good idea to reach out to friends, family, or loved ones for support as you consider your choices.
Choose the Type of Gift You’d Like to Leave
You can leave a share of your estate, a specific sum of money, or even a particular item. Deciding what to leave is an important step in ensuring your legacy aligns with your wishes.
Understand What an Executor Is
An executor is the person you appoint to administer your estate, ensuring your wishes are carried out. This person will pay your debts and distribute your assets. Executors can be family, friends, your solicitor, or even a trustee. Bundaberg Meals on Wheels cannot act as an executor.
Seek Professional Advice
Your Will is a significant legal document, so we recommend consulting a solicitor to make sure it is prepared correctly and in accordance with the law. If you’re including a gift to Bundaberg and District Meals on Wheels, your solicitor can help with the wording and provide necessary legal information.
Write Your Will
Your Will must be written, signed, and dated on every page. The signature must be witnessed by two people who are not beneficiaries of your Will. Your solicitor can guide you through this process to ensure the validity of your document.
Store Your Will Safely
You can store your Will with your solicitor, a trusted relative, or in a secure location such as a Safe Custody envelope at your bank. Ensure your executors and loved ones are aware of where to find it, and keep a copy for your personal records.
Residual Gift
A portion of your estate that remains after all debts, taxes, and other bequests have been paid. This type of gift ensures that your estate is fully distributed before your generous contribution is made, leaving a lasting impact on future generations and supporting the continued work of Bundaberg and District Meals on Wheels.
Specific Gift
A donation of a defined item, asset, or amount of money. You can choose to leave a specific amount of money, property, or even stocks to Bundaberg and District Meals on Wheels. This allows you to make a direct and purposeful contribution to our work, ensuring your gift supports exactly what you intend.
Pecuniary Gift
A fixed sum of money designated for Bundaberg and District Meals on Wheels in your will. Whether it’s a small or substantial amount, a pecuniary gift offers you the flexibility to contribute to the ongoing support of our mission, knowing exactly how much you are leaving.
Bequest FAQs
What is a bequest?
A bequest is a gift left to an organization or charity in your will. It can be a sum of money, assets, or property that you choose to leave after your passing. Bequests help ensure that your legacy continues to make a difference in the lives of others.
How do I leave a gift in my will to Bundaberg and District Meals on Wheels?
Leaving a gift in your will to Bundaberg Meals on Wheels is simple. After consulting with your solicitor, you can include specific wording to allocate your gift accordingly.
Are donations to Bundaberg and District Meals on Wheels tax-deductible?
Yes, donations of $2.00 or more are tax-deductible. To receive a receipt for your donation, please email us at info@bmow.com.au, and we will send you the necessary documentation.
Do I need a solicitor to leave a gift in my will?
While you are not required to use a solicitor, it is strongly recommended to ensure your will is legally valid and reflects your wishes accurately. A solicitor can provide the necessary advice and help with any legal requirements for writing or updating your will.
Can I change my bequest at any time?
Yes, you can update or change your bequest whenever you wish. It’s important to regularly review your will, particularly if there are any major life changes, such as moving to a new location, getting married, or having children. You can easily amend your bequest through a simple codicil (a legal amendment to your will).
Will my bequest remain confidential?
Yes, your bequest will be kept confidential. We respect your privacy and will only contact you if you have expressed interest in discussing your gift or legacy.
How can I learn more about leaving a gift in my will?
If you’d like more information or need assistance with leaving a bequest to Bundaberg Meals on Wheels , please contact us (link to contact us page). We can provide additional guidance, suggested wording for your will, and answer any questions you may have.
