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Charitable giving in wills
29 July 2020

Including a charitable gift in your Will

How you can leave a lasting legacy through a charitable gift in your Will

3 min read

More than just a legal document, your Will is an important part of your legacy. It is an opportunity to consider what has mattered to you most throughout your life, and what you want your lasting impact to be.

In addition to providing for loved ones, many people consider leaving a gift in their Will to organisations that may have had a meaningful impact upon them throughout their life. Many people outside of the charity sector don’t realise, but legacy giving actually makes up a significant portion of charitable fundraising in Australia – in fact, analysis from Pareto Fundraising estimates that on average legacy giving accounts for 20% of the annual income for charities in Australia.

In this article, we explore how you can leave a charitable gift in your Will to an organisation you’d like to support, and some of the key considerations you may want to keep in mind when doing so.

What types of gifts can I leave in my Will?

There are two types of charitable gifts (also known as bequests) that you can leave in your Will with Safewill:

  1. A percentage of your estate in the Estate Module

    After you have taken care of your loved ones in your Will, you can allocate a percentage of your estate to the charity of your choice – no legacy is too small, and a gift as little as 1% can make a significant impact.

  2. An amount of money or specific assets in the Gifts Module

    You can leave a specified sum of money, or specific asset of value to your chosen charity. This can include property, shares, jewellery or works of art.

Can I leave gifts to multiple organisations?

Many people have multiple organisations that they would like to support, and with Safewill it is possible to leave gifts to multiple organisations. This can be for either specific or residuary estate gifts (or both!).

Considerations when leaving a charitable gift

There are a few things to keep in mind when leaving a charitable gift in your Will.

Talking to your loved ones

It's important to talk to your loved ones about your intentions and let them know that leaving a gift to charity is something that is important to you. This can help to ensure that your final wishes are carried out.

Letting the organisation know of your gift

It is extremely beneficial to charities to be notified of a gift in a Will. This not only allows them to plan for the gift and allocate budgets, but also to reach out and give thanks for the gift. Many charities have a legacy or bequest society that is an important part of the organisation’s culture and community.

Your gift, no matter how big or small, is so much more than a financial contribution - it will leave a lasting legacy for generations to come. If you’d like to leave a gift, click here and get started on your Will today.

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