EXAMPLES OF HOW A BEQUEST SHOULD BE WORDED
Form of Bequest that will ensure legal endorsement.
“I give, devise and bequeath ($…… OR my property at…… …… OR ……% of the residue of my Estate) free of all duties to the Queensland Blind Association Inc. for the purposes of the said Association within the State of Queensland, and I declare that the receipt of the Secretary of the Association shall be full and sufficient discharge to my executor or trustee, and shall absolve them from seeing as to the application thereof.” Queensland Blind Association Inc ABN: 65 938 216 556
BLINDNESS IS AN UNAVOIDABLE FACT OF LIFE
From its inception in February 1939 the Queensland Blind Association Inc has been a vital link to the world of people without sight. We have provided practical support for the Blind community for over 75 years.
The Association is a non-profit registered charity that depends mainly on Donations and Legacies to continue our essential work and services not only for now but also for the future.
By leaving a Bequest from your Estate to the Queensland Blind Association Inc, your gift will be an investment into easing the burdens of people without sight. No matter what size your Bequest is it will be most appreciated. Rest assured it definitely will make a difference.
As our appreciation to you, your name will be noted as a permanent memorial on our Benefactors Board.
While there is a need for us, we will continue to assist the blind community in Queensland and with the generosity of supporters like you our job is made that much easier. It is often we receive Bequests from individuals who would like to say ‘Thanks’ for helping a loved member of their family or a friend who had received support from this Association.
Would you like to include the Queensland Blind Association Inc. in your Will?
A little time spent now thinking about making a Will can save your family and friends a lot of heartache in the distressing time after the death of a loved one. You have then made a plan of your ideas and wishes for the future.
WHAT IS A WILL AND WHY MAKING ONE IS SO IMPORTANT?
A Will is a very vital and important legal document and it is necessary for all people over the age of 18 years of age to have a Will. A Will can include provisions about the use of your body for organ donation or medical research, about your preferred funeral arrangements and guarantees that your assets are distributed in the way you want after your death. If you do not have a Will you do not have a say. Your estate is shared out according to Intestacy rules set out in Government legislation.
Your assets will include your house – (contents including furniture and fittings and paintings), other real estate, shares, monies in bank accounts, insurance policies, cars or personal jewellery and any other goods you own.
WHAT DO YOU NEED TO CONSIDER WHEN MAKING YOUR WILL?
You will need to consider a number of matters:
You will need to appoint a person or a number of people to act as the executor/s and trustee/s of your will. This person is responsible for distributing your estate according to your will, for paying for your funeral from you estate, for administering money held on trust for beneficiaries who are not entitled to receive money immediately after your death, eg children who are under 18 years of age, or where you have made a provision that they receive their entitlement at a later time such as upon marriage.
The Executor will usually engage a solicitor to assist with the legal issues involved. You may appoint a family member, friend, Solicitor, Trustee Company or the Public Trustee to act as your Executor.
You will need to check what is in your Estate and consider who you would like to receive your property. It is not necessary to decide how each asset is to be distributed – you may, for example leave your entire estate to one person, or a certain proportion of your estate to one person. If you would like to leave certain property or personal items (including furniture, jewellery and other heirlooms) then you will need to specifically bequest those items to particular people or institutions. You can also leave amounts of money to people or institutions in a bequest.
These are people who will receive assets or money under your Will. You may choose only one person or institution, such as a spouse or charity, or you may decide that you would like a number of people to receive a proportion of your estate, or certain assets from your estate.
DISPOSING OF ASSETS
Some terms you may need to understand.
- Specific Bequest – a gift of a particular piece of property, item of furniture, jewellery etc.
- General Bequest – gift of a sum of money or a proportion of your estate.
- Residuary Bequest – the residuary of the Estate is what is left after all specific and general bequests have been distributed.
MAKING A GIFT TO THE QUEENSLAND BLIND ASSOCIATION INC
You can make a gift to the Queensland Blind Association Inc in the following ways:
- By leaving a proportion of your entire Estate.
- By leaving a proportion of the residue of your estate (i.e. the amount left after your specific and general bequests have been distributed).
- By leaving a particular sum of money or piece of property.
- By setting up a trust for the benefit of the Queensland Blind Association Inc.
- By giving a piece of property to another beneficiary for their use during their life, with the remainder to go to the Queensland Blind Association Inc – for example, giving a spouse a life interest in the matrimonial home with the remainder to go to the Queensland Blind Association Inc which means that the house would become the property of the Queensland Blind Association Inc upon the death of the spouse.
WHO SHOULD I SEE ABOUT MAKING A WILL?
We highly recommend that you consult a Solicitor who can advise you about the law and prepare your Will for you.
If you are considering making a new Will or are looking to alter an existing one and would like to leave a gift in your Will to the Queensland Blind Association Inc you may contact Quinlan Miller and Treston, Solicitors who at no cost to you will gladly assist you with preparing your Will on telephone number 07 3223 6400.