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Your will is one of the most important documents you will sign. It is a powerful tool for change, allowing you to decide how your assets will be distributed and determining who and what vision you wish to benefit.
A will must be carefully planned, drawn up, and executed to ensure your wishes will be effectively carried out. The CIS recommends you consult your solicitor, a trustee officer from a trustee company, or the Public Trustee when drafting your will, and that you appoint an appropriate executor.
If you already have a will and would like to support the CIS with a bequest without rewriting the entire document, a codicil can be drawn up.
Also, please do let our Planned Giving staff know about your bequest wishes. We want to recognize* you for your generosity by inviting you into our distinguished Legacy Society. Also we would love to discuss how and where you would like your legacy to live on through the CIS.
*We understand you may want to ensure your gift is done with little to no recognition. Reaching out to us will help facilitate this while ensuring your legacy gift is utilised to your exact wishes.
Ways to give through your will:
Residuary Bequest
A residuary bequest occurs when you leave a portion or the remainder of your estate to the Centre for Independent Studies after all other bequest and other financial commitments have been honoured. This is a wonderful way to ensure the Centre for Independent Studies receives the most help possible, whilst also ensuring your loved ones are taken care of.
Suggested wording in your Will:
“I bequeath to the Centre for Independent Studies, NSW 2000, ABN 15 001 495 0125, (Insert number)% of my residuary estate, to be applied for the purposes of (insert purpose) or by the Centre for Independent Studies in such a manner as its Directors may determine. I direct that the receipt in writing of an authorised officer of the Centre for Independent Studies shall be deemed proof of payment.”
Specific Bequest
This refers to a specific item, such as property or shares to be given to the Centre for Independent Studies.
Suggested wording:
“I bequeath to the Centre for Independent Studies, NSW 2000, ABN 15 001 495 0125, (describe asset accurately), to be applied for the purposes of (insert purpose) or by the Centre for Independent Studies in such a manner as its Directors may determine. I direct that the receipt in writing of an authorised officer of the Centre for Independent Studies shall be deemed proof of payment.”
Pecuniary Bequest
A gift of a fixed or stated sum of money designated in your Will.
Suggested wording:
“I bequeath to the Centre for Independent Studies, NSW 2000, ABN 15 001 495 0125, the sum of (Insert $ amount), to be applied for the purposes of (insert purpose) or by the Centre for Independent Studies in such a manner as its Directors may determine. I direct that the receipt in writing of an authorised officer of the Centre for Independent Studies shall be deemed proof of payment.”
Contingent Bequest
This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation.
Please seek advice from a legal solicitor for specific wording on how to leave the Centre for Independent Studies a contingent bequest