A lasting legacy
A Will is an important document that ensures your assets and belongings are divided between your family and loved ones as you intended.
You may also want to leave a legacy which reflects your values. This can be done through a form of a ‘Bequest’, which is a gift made through a Will to iCARE.
Your bequest to iCARE will be a lasting legacy, as it will help continue to transform the lives of children, youth and women living in some of the world’s poorest communities. Through education your legacy can help to build the skills needed for their livelihoods and to break the cycle of poverty.
As you are aware iCARE supports education programs in Asia and Africa. Currently, we are using education to transform lives in the Philippines, Kenya and Uganda.
Your gift will be a lasting legacy that helps people like Rachel and the communities where they live to thrive, through education.
Ways you can leave a lasting legacy
We suggest that if you intend to leave a Bequest to iCARE first discuss your wishes with your family so that they are aware of your intentions. After your family and loved ones have been considered, you can leave a Bequest in various forms addressed to iCARE.
If you do not have a Will, you have three forms of bequests that you can choose from:
1. Residuary Bequest; a gift of the remainder of the estate after all other commitments have been made or even a percentage of this remaining amount.
2. Percentage of your estate, a portion of the total sum of your possessions (minus debts).
3. Specific Bequest; a fixed amount of funds you would like to leave also known as a pecuniary bequest.
All these forms of bequests will help iCARE transform lives through education. You can decide the amount or form of bequest you would like to leave. Once you have decided what will best suit your circumstances you can use the suggested wording provided to write up your Will or we suggest that you address your wishes with your solicitor to follow through your decision.
If you already have a Will, you can easily update it with a Codicil. A Codicil will act as an additional clause to your existing Will. iCARE has a Codicil which you can use as a template to provide you with the correct wording and information to pass on to your solicitor. (View Codicil here)
A Will is an important legal document. Therefore it is important that you use the correct wording to ensure what you had envisioned is followed through. The wording below will help you gain an understanding of the wording or information needed for your Will.
“I Give, Free of all duties and taxes
(choose one of the following from A, B, or C)
A. the whole of my estate (or _______ % of my estate), or
B. the residue of my estate (or _______% of the residue of my estate), or
C. the sum of $________, or my units/shares in ___________Trust/Ltd
To International Christian Aid Relief Enterprises Ltd ABN 16 002 516 485 of 15/27 Hunter St, Parramatta, NSW 2150. The receipt of the General Manager or Donor Relations Coordinator for the time being of International Christian Aid Relief Enterprises is an absolute discharge to my executor.
Beneficiary: Any person or organisation to whom you wish to leave a legacy or bequest (gift) in your Will.
Bequest: A gift nominated in your Will, also referred to as a Legacy. Various forms of bequests exist, e.g Residuary Bequest, Pecuniary Bequest, Specific Bequest.
Codicil: Any change or update that you make to your Will. It must follow the same legal formalities as the original Will.
Estate: The total sum of your possessions, property and money (minus debts) left after your death.
Executor(s): Person(s) appointed by you to make sure the wishes in your will are carried out.
Pecuniary Bequest: A gift of a fixed sum of money in your Will. (This amount will be influenced by inflation.)
Probate: The legal procedures after death which confirm your Will is valid and confirm the executor’s authority to carry out your wishes.
Residuary Bequest: A gift of the remainder of the estate after all other bequests have been made and debts cleared.
Specific Bequest: A particular named item left as a gift in your Will, for example a piece of jewellery.
Intestate: The condition of dying without having made a Will.