A bequest in your Will – no matter how large or small – can make a big impact on the lives of our artists, ensuring that Arts Project Australia is here to fully support them.
Leaving a bequest in your Will can be done easily and simply. The following is a guide to some of the ways you can leave a bequest to Arts Project Australia. We recommend you consult a legal practitioner to discuss how to make or update your Will.
There are three different types of bequests you can make:
- Specific bequest: a gift of a specific sum of money. You can make a specific bequest for an absolute sum of money to Arts Project Australia using the following wording:
“I Give to Arts Project Australia (ABN 99 804 795 393) for its general purposes, the sum of $[XX] free of all duties and I declare that the receipt of the Treasurer or other officer shall be sufficient discharge to my Executor(s) and/or Trustee(s).”
- Residual bequest: a gift of whatever is left of your Estate – or a percentage of it – after all other gifts, taxes and debts have been fulfilled. You can make a residual bequest using the following wording:
“I Give to Arts Project Australia (ABN 99 804 795 393) for its general purposes and free of all duties, [X] percent of the rest and residue of my Estate and I declare that the receipt of the Treasurer or other officer shall be sufficient discharge to my Executor(s) or Trustee(s).”
- Bequest for a particular purpose: If your bequest is for a particular purpose, please ensure that your Will provides that Arts Project Australia can use your bequest even if it is impossible or impracticable to apply it to the prescribed purpose. This can be ensured by enclosing a provision in your Will as follows:
“If at any time and for whatever reason it becomes impracticable or impossible for Arts Project Australia to apply my bequest for the purpose or purposes directed by me in this Will then the Board of Arts Project Australia may apply such bequest for such other purpose as the Board determines is most closely in accordance with my directions.”
Please let us know if you intend to make a gift in your Will to Arts Project Australia so that we can thank you and acknowledge your generosity (if you wish for us to do so).
Thank you for considering Arts Project Australia in the drafting of your Will—we are incredibly appreciative of your support.