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FAQs

Frequently asked questions about gifts in Will

What is a Bequest?

A Will is a legal document that sets forth your wishes regarding the management and distribution of your estate and assets, as well as the care of any minor children. If you die without a Will, your wishes may not be carried out. Your Will can also include who will look after your pets, detail your funerary instructions and anything else you feel is important. Having a Will means your family and beneficiaries can settle your estate as prescribed, saving time, money and emotional energy

What’s the difference between a gift in your Will, legacy gift and a charitable bequest?

Nothing, they’re all the same. A gift in your Will is a future donation to charity recorded in your Will. It can be in the form of shares, property, cash or a portion or remainder of your assets once those that you care about the most are taken care of.

The term ‘legacy gift’ is used because by including a gift in your Will to charity, you’re leaving a legacy of generosity.

A charitable bequest is simply the legal term for a gift/donation in your Will to charity.

How do I make or change a Will?

We recommend seeking the advice of an independent solicitor before making or changing your Will. Wesley Wills Days are also a great opportunity to get independent advice and prepare a Will at a fraction of the normal cost.

Why do I need a Will?

A Will is a legal document that sets forth your wishes regarding the management and distribution of your estate and assets, as well as the care of any minor children. If you die without a Will, your wishes may not be carried out. Your Will can also include who will look after your pets, detail your funerary instructions and anything else you feel is important. Having a Will means your family and beneficiaries can settle your estate as prescribed, saving time, money and emotional energy

I don’t have much money. How can I make a difference?

You don’t have to be wealthy to leave a gift in your Will. It’s something anyone can do. Regardless of the size, when combined with other bequests, your gift can make a real difference for generations to come.

I already have a Will. Do I need to make a new one?

Your Will is a record of your wishes at a particular point in time. It’s advisable to regularly review your Will as your circumstances change so it accurately reflects your current wishes. If your Will still reflects most of your wishes, and you just want to make some small additions or changes such as including a gift in your Will, ask your solicitor to help you create a codicil (an addition or supplement that explains, modifies or revokes a Will or part thereof).

Is the gift in my Will tax deductible?

No, tax is not paid on gifts made to registered charities, including bequests. Gifts made to charities in your Will don’t incur inheritance tax.

Is Wesley Mission a registered charity?

Yes – Wesley Mission is a registered charity in Australia (ABN: 42164655145). For every $1 donated to Wesley Mission, only 18 cents are spent on administration costs.

Why leave a gift in my Will to Wesley Mission?

Gifts in Wills play a crucial role in helping us do all the good we can in the community. When you choose to give a gift in your Will to Wesley Mission, you’re supporting an established organisation with over 200 years’ experience in caring for those in need. Your generosity – like that of so many before you – will lay the foundations for our future work and help us grow and maintain an effective, sustainable model of care. For more information on the impact your gift in Will can have, download our Bequest brochure.

How do I leave a gift in my Will?

Leaving a gift in your Will is not a complicated process. First, discuss your decision with those that you care about the most. Next, speak with your solicitor to confirm your type of gift best reflects your intentions and ask them to update your Will or complete a codicil. Finally, let us know.

Call (02) 9263 5561 or email giftinwills@wesleymission.org.au Still have questions? Learn more about how to leave a gift in your Will.

What kind of gift can I leave in my Will?

There are four types of you can leave in your Will:

  1. Pecuniary gift – a set sum of money
  2. Residual gift – a percentage of the value of your estate, which may also include the remainder of your estate
  3. Specific gift – a gift of a particular asset, such as a house, car, furniture or jewellery.
  4. Designated gift to an area of the work that is close to your heart and service, i.e. homlessness, mental health (Lifeline Sydney & Sutherland) and children (Wesley Dalmar)
Can I choose a specific area of Wesley Mission to support?

Yes – you can leave any type of gift in your Will to Wesley Mission for general purposes or for a specific program or community service area.  

If I include Wesley Mission in my Will, do I need to let you know?

You’re under no obligation to share this information with us. However, we do find it helpful to know, as it gives us the opportunity to thank you for your generosity and also plan for the future.

Can I write my Will myself?

It’s advisable to have a legal professional prepare your Will for you. It’s the only way you can be sure your Will is correctly drawn up. We provide key wording to include a gift in your Will that can be given to your solicitor. We also offer Wesley Wills Days, where an independent solicitor can prepare a simple Will for as little as $80.

How much does it cost to write my Will?

A Will prepared by a solicitor can cost between $400 and $3,000, depending on its complexity. Wesley Mission holds regular Wesley Wills Days, where an independent solicitor can prepare a simple Will for as little as $80.

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For more information on leaving a gift in your Will, contact our team.

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