Types of Bequests
Leaving Funds In Perpetuity
You may prefer to leave money or assets in your Will to your parish, the diocese or a perpetual fund wherein the diocese can avail itself of an income stream generated by the asset or money in perpetuity.
Leaving a specific bequest
This type of bequest can refer to a sum of money, a gift of jewellery, art, shares or property. Leaving the residue of an Estate is whatever is remaining after you have taken care of your family through specific bequests.
Leaving a percentage of your estate
Over the years, the extent of your Estate may vary, but the chosen share of your Estate will remain the same. You can choose what proportion of your Estate you would like to go to your chosen beneficiaries and in the priority of importance you may see fit.
Leaving the whole estate
You may like to leave your parish or diocese all of your Estate. Your estate can be used in specific areas. Please share your plans with us so we can make sure that your money is spent in a way you would approve.
Another form of gifting can be done through the donation of a life insurance policy. Many people started out in life with a small insurance policy. Through superannuation benefits and other estate planning, these insurance policies do not always represent a significant amount to estate planning. You can name your parish or the diocese or any of its related agencies as the beneficiary whilst still financially caring for your family.
Help with a Bequest
It is advisable to seek professional advice and assistance when making a will. Homemade Wills or Will Kits can lead to problems as the meaning and validity is often unclear.
A solicitor or the NSW Trustee and Guardian can confidentially discuss your concerns and requirements. The Solicitor or Public Trustee and Guardian will prepare a Will for you and assist with the correct wording to ensure that your wishes regarding your estate are honoured.