There are many reasons people choose to leave a bequest. For Dennis Altman, who established the Assia Altman Fund at Australian Communities Foundation in 2010, the decision was based on a wish to see his gift do the most good as possible.

The following wording is provided as a guide only. We recommend you take advice from your solicitor in relation to the preparation of your Will to ensure it reflects your exact wishes. You may also wish to speak to an accountant with respect to taxation and financial matters. We are also happy for you or your solicitor to contact us directly on 03 9412 0412 if you have any queries.

A gift to Australian Communities Foundation’s Impact Fund

I give (type of gift) to Australian Communities Foundation Limited, as Trustee of Australian Communities Foundation Extension Fund (ABN 57 485 460 977) to be held on trust in the Australian Communities Foundation Extension Fund and to apply the funds as the Trustee may decide in line with Strategic Fund priorities [and to acknowledge grants from my bequest, wherever practical at the Trustee’s discretion]. The executor may accept a receipt from the secretary of the Trustee of the Fund as sufficient discharge for this gift.

A gift to an existing tax-deductible fund

I give (type of gift) to Australian Communities Foundation Limited, as Trustee of Australian Communities Foundation Fund (ABN 57 967 620 066) to be held on trust in the Australian Communities Foundation Fund and request, without obligation, the Trustee of the Fund hold the bequest in the [insert name of your existing sub fund] and to apply the funds as the Trustee decides/in favour of [insert your areas of interest for grantmaking] purposes and to acknowledge grants from the [insert name of your existing sub fund], wherever practical in the Trustee’s discretion. The executor may accept a receipt from the secretary of the Trustee of the Fund as sufficient discharge for this gift.

Please contact our office for the appropriate wording if the existing fund is a non-tax deductible or scholarship fund.

A gift to establish a fund

I give (type of gift) to Australian Communities Foundation Limited, as Trustee of Australian Communities Foundation Extension Fund (ABN 57 485 460 977) to be held on trust in the Australian Communities Foundation Extension Fund and request, without obligation, the Trustee of the Fund hold the gift in the [insert name of fund] and to apply the funds as the Trustee decides/in favour of specific purposes [insert your areas of interest for grantmaking] and to acknowledge grants from [insert name of fund], wherever practical at the Trustee’s discretion. The executor may accept a receipt from the secretary of the trustee of the Fund as sufficient discharge for this gift.

Statement of wishes

If you choose to leave a bequest to Australian Communities Foundation, we ask that you or your solicitor notify us so that we can discuss with you how your bequest can be targeted to ensure its long-term viability and impact. We will also provide you with a short Statement of Wishes form.

We like to honour the legacy of donors by acknowledging gifts left by individuals and/or funds on our Bequest Honour Roll and in printed materials. It is also important for us to be able to tell grant recipients where the gift came from. However, we also value your privacy and will seek permission prior to any public acknowledgement.

A bequest is the gift of an asset or other right provided as part of a Will, intestacy or settlement. Bequests may be for a particular asset, amount or percentage of an estate. There are several different types of bequests:

• Pecuniary bequest: a fixed amount specified in a Will.
• Residuary bequest: the remaining value of an estate when all other bequests to family and friends have been made and liabilities have been paid.
• Reversionary bequest: allows a surviving partner to benefit from your estate during their lifetime and then for the balance of the estate to be paid to Australian Communities Foundation upon their death.