Gifts in Wills: Common bequest questions

A bequest or ‘gift in Will’ is the donation you make when you include the Heart Foundation in your Will.

Not at all. Every bequest, no matter how big or small, has a powerful impact on the fight against heart disease.

For example, if you leave 90% of everything you own to your loved ones, giving the remaining 10% to the Heart Foundation – you’d be making an exceptionally generous gift.

Each compassionate bequest brings us one step closer to an Australia free of heart disease.

Talk to your solicitor and loved ones about writing a Will that reflects your wishes, including any charities you wish to support. This will remove your risk of dying intestate (without a Will).

If you have a Will, you have peace of mind that your wishes will be carried out. But if you die intestate, any loved ones and/or causes you support could be left out entirely.

Find out more about preparing your Will to include a bequest.

In Australia, you can make a legally binding Will any time after you turn 18.

That’s great. Revising your Will to include the Heart Foundation is easy. See how you can include a bequest in your Will.

In any case, it’s a good idea to review your Will every one to two years, to make sure it still reflects your wishes and assets. You should also review it whenever any big life changes happen.

Find out more about when and how you should review your Will.

There are many kinds of bequests you can make, including:

A percentage or share of your estate (residual bequest)
A specific sum of money (pecuniary bequest)
Property
Shares
The whole of your estate.

Your solicitor can help you choose the gift that’s right for you.

Learn more about each type of bequest.

You’re in great company, because many of our bequest supporters have made gifts in Wills to other charities as well as the Heart Foundation.

One of the easiest ways you can make a gift in Will to the Heart Foundation and other charities is by making a residual bequest.

A residual bequest is commonly stated as a percentage of your estate residue, or the amount that’s left once you’ve taken care of your loved ones and expenses.

Using percentages allows you to include multiple charities. You can also prioritise the amount you give to each, based on what matters most to you.

We know that taking care of your loved ones must come first and we absolutely support your decision to do this.

This is also the key reason why over 600 of our supporters have chosen to include a residual bequest to Heart Foundation in their Will.

Residual bequests allow you to leave a percentage of what’s left after you’ve taken care of your family and friends – so you can support both the people and causes you care about.

Compared to other types of gifts in Will, residual bequests:

Are simple. You don’t know what your final estate will contain, but a percentage gives you peace of mind.
Automatically adjust to changes in your estate’s value
Allow you to take care of your loved ones first.
Allow you to include a few of your preferred charities equally.

See our guide to preparing your Will

Many supporters, just like you, are including both specific gifts (pecuniary) and also a residual clause with a percentage to he Heart Foundation. Most solicitors recommend including a residual clause in your Will to cover contingencies.

If you need to save on costs, you can update your Will the next time you do one of your regular reviews, which you should do every one to two years.

Find out more about reviewing your Will.

It’s very helpful if we know your intentions. Many of our supporters give us a copy of their Will for safe keeping. We’d love to have the chance to say thank you, and talk to you about how your visionary gift could be used.

Knowing about your bequest also helps us to plan our programs with confidence, knowing that your exceptional generosity will be there to support Australians in the future.

You can let us know about your bequest by:

Email: giftsinwills@heartfoundation.org.au 
Phone: (02) 9219 2444 and asking to speak with our Bequest Manager.

We recommend you let your loved ones know about your gift, so they understand why supporting the fight against heart disease matters to you.

You can, although it’s worth remembering most bequests aren’t realised for years. So if you include a general gift, it means we can fund the most significant project at that time.

If you don’t specify where your bequest must be spent, it will be used wherever it’ll make the most impact in the fight to save Australians from heart disease.

If you’d like your bequest to be spent in a certain way, call us on (02) 9219 2444 to discuss your options. 

Not usually, although your bequest may be exempt from capital gains tax (CGT) if it includes shares, property, or other assets that are liable for CGT. Talk to your solicitor and financial adviser to find out how this may apply to you.

No inheritance taxes or death duties are payable in Australia.

Yes, as what you include in your bequest is entirely up to you.

Yes. This is a wonderful way to honour your loved one.

A memorial gift is different to a bequest, as it doesn’t come from your estate.

Find out more about gifts in memory.

By email: giftsinwills@heartfoundation.org.au

By phone: (02) 9219 2444.

Gifts in Wills: Common questions about bequests

Answers to questions about leaving a gift in your will for the Heart Foundation

You might also be interested in

Help others in need through a gift in your Will

Help others in need through a gift in your Will

Help others in need through a gift in your Will

Leaving a gift in your Will: A lasting legacy

Leaving a gift in your Will: A lasting legacy

Leaving a gift in your Will: A lasting legacy

Donate to the Heart Foundation

Donate to the Heart Foundation

Donate to the Heart Foundation

Join Kate in making a difference to future generations

Join Kate in making a difference to future generations

Join Kate in making a difference to future generations

Remember a loved one with a tribute

Remember a loved one with a tribute

Remember a loved one with a tribute

End of Financial Year Tax Receipt

End of Financial Year Tax Receipt

End of Financial Year Tax Receipt

Donate Monthly | Become a Regular Donor

Donate Monthly | Become a Regular Donor

Donate Monthly | Become a Regular Donor

How we fought heart disease in 2020

How we fought heart disease in 2020

How we fought heart disease in 2020

Donate to the Heart Foundation

Donate to the Heart Foundation

Donate to the Heart Foundation

Celebrate the life of someone you love by giving to the Heart Foundation in their memory

Celebrate the life of someone you love by giving to the Heart Foundation in their memory

Celebrate the life of someone you love by giving to the Heart Foundation in their memory

Philanthropic investments

Philanthropic investments

Philanthropic investments

How to prepare your Will to include a bequest

How to prepare your Will to include a bequest

Reviewing your Will

Reviewing your Will

Reviewing your Will

Support us and help save Australian hearts

Support us and help save Australian hearts

Support us and help save Australian hearts

Where our funds go

Where our funds go

Where our funds go

Receive your free Gift in Wills information pack

Receive your free Gift in Wills information pack

Workplace giving program

Workplace giving program

Workplace giving program

Workplace giving for employees

Workplace giving for employees

Workplace giving for employees

Workplace giving for employers

Workplace giving for employers

Workplace giving for employers

Are you at risk of heart disease?

Are you at risk of heart disease?

Are you at risk of heart disease?

How we fought heart disease in 2020

How we fought heart disease in 2020

How we fought heart disease in 2020

Heart Foundation Recovery Support and Resources

Heart Foundation Recovery Support and Resources

Heart Foundation Recovery Support and Resources

Heart Health Check Toolkit

Heart Health Check Toolkit

Support us and help save Australian hearts

Support us and help save Australian hearts

Support us and help save Australian hearts

Aboriginal heart health

Aboriginal heart health

Aboriginal heart health

Fundraise to save Australian hearts

Fundraise to save Australian hearts

Fundraise to save Australian hearts

Cardiomyopathy; another health curveball for Ange

Cardiomyopathy; another health curveball for Ange