If you have any further questions, please don’t hesitate to contact our Gifts in Wills Team. We would be grateful for the opportunity to discuss your decision further, or to answer your questions.
Gift in Wills FAQs
Frequently Asked Questions
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A Will is one of the most important documents you will have in your lifetime for many reasons:
- You are able to dictate where and to whom your assets and property are given. If you pass away without a Will, the State will determine how your assets are distributed using a pre-determined formula. On the occasion that you pass away interstate without having a Will, it is possible that your loved ones and any other causes you wish to support will not receive anything from your estate.
- You are able to decide who will be the executor of your estate, whether that be a close loved one or a Professional Executor.
- Your passing will already be a very distressing time for your loved ones, having a Will already set in place means that they are saved from any additional stress or costs associated with your passing.
- You can make sure that your family, friends and pets will be cared for in the way you wish.
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A Charitable Gift left without specific instructions will be used for services most in demand and delivering measurable impact. Leaving a Gift in your Will to SMRC today will contribute to:
- Helping young students excel at school through Homework Support clubs.
- Supporting adults with education opportunities to increase their employment options.
- Giving people the independence that a Driver’s Licence brings.
- Connecting people to supports that contribute to positive mental health outcomes.
- Building the social networks that will nurture and help people to thrive.
- Assisting women to escape domestic violence.
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Traditionally, people would go to a Solicitor to have their Will drawn up. While this is still an excellent choice, especially if you have a complicated estate, it can be a rather expensive way to do it. SMRC recommends Willed, an Online Will-Writing platform, where you can write your Will Online and have it checked over by legal professionals with a significantly lower cost than seeing a solicitor. Click here to go to Gathered Here’s website to start your Will today.
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If you have already written your Will through an Online Platform, you can easily access your Will online and add a Charitable Gift, remembering to have the updated version signed and witnessed to ensure its validity. However, if you had your Will created through traditional channels, such as a solicitor, you can:
- Add a Codicil to your existing Will (a Codicil is a document used to document small changes to an existing Will).
- Revoke or destroy your existing Will, and create a new one.
Make sure you consult a legal professional prior to making changes to an existing Will.
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If you decide to leave a Gift in your Will to SMRC, you are not under any obligation to let us know or to share any information with us. However, we would find it helpful to know about your Gift so we can personally thank you for your contribution and provide you with regular updates on our organisation. Any information you decide to share with us will be kept strictly confidential and in line with our Privacy Statement.
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There is no difference between these terms, they are used interchangeably in Australia.
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There are several different types of Gifts you can leave:
- Specific: This designates a specific monetary amount or asset to be donated.
- Residuary: This designates whatever amount of an estate is left after all debts, expenses and other bequests have been fulfilled.
- Percentage of Estate: This designates a stated percentage of the estate’s value.
- Whole Estate: This is when the entirety of an estate’s value has been gifted to one person or organisation.
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You can gift anything from your estate, including a fixed sum of money, a percentage of your estate, or the gift of property or shares.
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It is best to obtain legal advice about the preparation of a Will. The Will should be reviewed every few years to ensure it is still in accord with your wishes. If it is not, it may or may not be necessary to completely rewrite the Will. If the changes are simple, a codicil can be written to make the changes, but care should be undertaken, and legal opinion should be sought as to its validity.
A Will should be kept in a safe place and a copy retained by you. Your executor(s) and at least one beneficiary should know where the original of the Will and any codicil is stored.
Please refer to our free Gift in Wills guide, for information on how to include a gift in your Will. If you require further information or would like to discuss any aspects of making your Will, we would be only too pleased to help.
Phone: 9767 1900
Email: giftinwills@smrc.org.au
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If you are the executor of a Will that includes a Gift in Will to SMRC, your role is to ensure the wishes of the deceased are carried out as specified. Here’s what you need to do:
- Contact SMRC: Reach out to us as soon as possible to inform us about the bequest. You can contact us at giftinwills@smrc.org.au for guidance.
- Provide Relevant Documentation: Share a copy of the Will (or relevant sections) and any other necessary documentation, such as probate or letters of administration, to confirm the details of the bequest.
- Distribute the Bequest: Once all estate debts and liabilities are settled, arrange for the distribution of the gift to SMRC as outlined in the Will.
If you have any questions or need assistance during the process, please don’t hesitate to contact us. We are here to help ensure the wishes of the deceased are honoured in accordance with Australian law.
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If you would like to invite donations rather than flowers at your or your loved one’s funeral, please reach out to our Bequest Team at giftinwills@smrc.org.au, and we can organise donation cards and envelopes, personalised with your or your loved one’s name.