Gifts in wills
Gifts in Wills
By choosing to donate a Gift in Will to Aurora, you are choosing to invest in the Aboriginal and Torres Strait Islander leaders of tomorrow. Your Gift can have a transformational impact on Aboriginal and Torres Strait Islander students and their communities.
Leaving a gift of any size, plays a vital role in ensuring that Aurora can continue to inspire every Aboriginal and Torres Strait Islander student in their education journey, connect them with educational and career opportunities that enable them to realise their potential, and guide them in this journey. By including Aurora in your Will, you can create a legacy to continue to shift the conversation to one of proud and talented Aboriginal and Torres Strait Islander students with limitless potential.
Gifts in Wills Steps
Indigenous Education is constantly evolving and at Aurora we pride ourselves on our adaptability and responsiveness to the current needs. That’s why our recommended wording for your Gift is for the general purposes of Aurora, so we can ensure it is used in the most impactful and productive way for the future of Aboriginal and Torres Strait Islander students at the time.
If you have already written your Will, we advise you to contact your Solicitor or Legal Advisor and propose adding a codicil (short amendment) to the end of your Will. You will then need to visit your Solicitor or Legal Advisor to office to sign the amended document.
For more information on Gifts in Wills please visit Include a Charity’s How to Guide.
Charitable gifts in Wills of property, stocks and shares are exempt from capital gains tax.
1. Consider your loved ones
Consider your loved ones and the causes to which you would like to leave a lasting legacy.
2. Choose the type of Gift you would like to leave in your Will.
Choose the type of Gift you would like to leave in your Will. There are four main types of gifts that you can leave in your Will:
- Residual: One of the most common ways to leave a charitable gift, a residual gift is the remainder of your Estate after first leaving gifts to your loved ones and payment of any financial commitments, funeral arrangements etc. E.g. If you want to leave 5% of the residual (or the remainder of) your Estate to Aurora after first specifying what you will leave to your loved ones etc.
- Pecuniary or specific: Another common way to leave a charitable gift, a pecuniary or specific gift clearly specifies the donation: it can be money, property, stocks and/or shares. E.g. If you want to leave $25,000 specifically to Aurora or have stocks or shares you would like to bequeath.
- Percentage or fractional: A gift expressed as a percentage or fraction of your Estate. Dividing your Estate by a percentage or fraction takes into account the changing value of your Estate: this could be due to factors such as inflation, property fluctuations and changes to the composition of your Estate over time. E.g. you want to leave 8% of your total Estate to Aurora.
- Whole estate: This comprises your entire Estate and is usually left by those without family or other preferred beneficiaries, or those wanting to achieve something very significant with their gift.
3. Consider getting legal advice.
Consider getting legal advice. Your Will is an important legal document and Aurora recommends you seek legal advice to ensure that the gift you are leaving befits your circumstances. You can contact your solicitor or create your Will easily online, at a discount, through our partners at Safewill.
4. Provide this recommended wording to your solicitor or legal advisor
Provide this recommended wording to your solicitor or legal advisor to include in your Will:
I leave to Aurora Education Foundation Limited of 100 Botany Road Alexandria, NSW Australia, Charity ABN: 28 158 391 363 (insert the percentage or residue of your estate, the amount of a fixed sum, details of your property, share or bond) absolutely for the general purposes of the said charity and I direct that the receipt of the Treasurer or other duly authorised officer shall be a sufficient discharge to my Executors.
5. Contact Aurora.
If you choose to leave a Gift to Aurora in your Will or would like more information about this option, please contact us here. We would love to understand your wishes for your legacy and how we can acknowledge your invaluable support. Knowing about your intentions to leave a Gift to Aurora helps us to future plan for Indigenous education