Bequests

Bequests2019-02-06T05:38:38+00:00

Bequests

Leaving a bequest to the Foundation will be an excellent way of making a significant contribution to its growth and success.

You may choose to leave a particular asset or specified sum of money, or a percentage of your total estate. Bequests may be given freely so that the Foundation can apply the money to the area of most need. It is also possible to leave a bequest with a requirement that the Foundation use your gift for specific purpose. However you choose to give your gift, it will help to ensure that the Foundation can continue its work into the future. If this is something of interest, make sure you speak with your lawyer to discuss your intentions and set up a plan.

We have prepared the following summary for your solicitor so that he or she may help you tailor the following clauses to your wishes for inclusion in your will:

Bequest/Gift of money

If it is a gift of money to the Theme & Variations Foundation the following clause would be appropriate:-

I GIVE the sum of xxx ($xxx) to the Trustee of the THEME & VARIATIONS FOUNDATION ABN 61 478 982 718 of 451 Willoughby Road Willoughby 2068 in the State of New South Wales for its general purposes or to be used for <specific purpose>.

We also include the following additional clauses where a Will contains a charitable bequest:

(a)    I DIRECT that the receipt of the Treasurer or Secretary or other authorised officer of any charity or charitable organisation or any other body whether corporate or otherwise shall be an absolute discharge to my Trustee.
(b)   I DIRECT that if any gift to any charity or other body under this my Will shall fail for any reason whatsoever then such gift shall not fail but my Trustee shall apply that gift to a charity in the State of (NSW/VIC/QLD) which my Trustee considers most nearly fulfills the objects that I intend to benefit.

Bequest of a specific asset

I GIVE to the Trustee of the THEME & VARIATIONS FOUNDATION ABN 61 478 982 718 of 451 Willoughby Road Willoughby 2068 in the State of New South Wales my <specific asset> for its general purposes.

(a)    I DIRECT that the receipt of the Treasurer or Secretary or other authorised officer of any charity or charitable organisation or any other body whether corporate or otherwise shall be an absolute discharge to my Trustee.
(b)   I DIRECT that if any gift to any charity or other body under this my Will shall fail for any reason whatsoever then such gift shall not fail but my Trustee shall apply that gift to a charity in the State of (NSW/VIC/QLD) which my Trustee considers most nearly fulfills the objects that I intend to benefit.

Bequest/Legacy of residue or part of residue

I GIVE AND APPOINT the <whole or rest and residue> of my estate whatsoever and wheresoever situated to my Trustee UPON TRUST to pay thereout such debts as I am legally required to pay, testamentary, administrative and funeral expenses and all taxes as my Trustee is legally required to pay and to stand possessed of the residue (“my residuary estate”) UPON TRUST for the Trustee of the THEME & VARIATIONS FOUNDATION ABN: 61 478 982 718 of 451 Willoughby Road Willoughby 2068 in the State of New South Wales for its general purposes.

(a)    I DIRECT that the receipt of the Treasurer or Secretary or other authorised officer of any charity or charitable organisation or any other body whether corporate or otherwise shall be an absolute discharge to my Trustee.
(b)   I DIRECT that if any gift to any charity or other body under this my Will shall fail for any reason whatsoever then such gift shall not fail but my Trustee shall apply that gift to a charity in the State of (NSW/VIC/QLD) which my Trustee considers most nearly fulfills the objects that I intend to benefit.

Please note: The inclusion of (b) in each of the above options is up to the Will maker.