Making a Will is one of the most important things you will do. It ensures that your assets are distributed according to your wishes, to the people and charities you care about. Leaving a gift in your Will will ensure that vital research continues beyond your lifetime, so that our research can continue to deliver transformations to the lives of people with T1D, until a cure is found for all our loved ones.
Giving through your Will
Firstly, we recommend that you talk with your Solicitor and or Financial Planner who will ensure your estate plans is constructed in a proper way and to ensure your wishes will be met. If you have a Will, then you can add JDRF through a short legal amendment to your existing will (also known as a codicil).
Different ways to remember JDRF in your Will.
After you have made provisions for your family and loved ones there are different ways to remember JDRF in your Will.
You may specify the sum that you leave to JDRF as a:
- Specific Amount - this enables you to specify a property, work of art, a sum of money - in fact anything of value - as your gift. Please be aware that in nominating a specific amount the value may be eroded by inflation over time.
- Percentage Amount - this allows you to share your estate among a number of beneficiaries without identifying specific items of property or amounts of money.
- What is Left - After you have provided adequately for your family and friends you may choose to give what is left to charities such as JDRF. This is also known as a "gift of residue."
The suggested wording for leaving either a specific or percentage gift in your Will would be:
"I bequeath to JDRF Australia for (its general purposes) or (specific purposes) (the residue of my estate, or a specific sum or specified percentage) free of all duties and testamentary expenses for which a receipt of the Treasurer or other authorised officer of the JDRF Australia shall be sufficient discharge to my executor for this bequest."
Other ways to give
Besides a bequest gift from a Will, there are several other forms of estate planning vehicles that you may wish to use, including:
- Pledge - an undertaking to pay a certain sum of money within a specified period of time usually at regular intervals. Gifts can be paid through cash or stock gifts.
- Trusts and Funds - these may be established from the proceeds of a Will or during your life time. They are established for a special purpose and a specific set of giving criteria as stated in the Trust Deed or directions to a Charitable Fund.
- Life Insurance or Superannuation Funds - These can be used to give money philanthropically. JDRF can be named as a beneficiary to a policy or fund which is not open to contest so JDRF may receive the benefit without waiting for probate to be assessed.
Directing Your Gift
It is also possible to specify how your gift is directed. Many JDRF supporters have a connection to type 1 diabetes and wish to have their gift directed to an area of personal interest.
JDRF understands that the making of a Will and your estate planning are very personal matters. If you do choose to name JDRF as a beneficiary through your Will or another estate planning vehicle, we would very much appreciate a simple confirmation advice from you or your solicitor. We do not need any further details, but the confirmation assists us greatly with our future planning for research. Telling us about your intentions does not of course legally bind you in any way.
If you have already nominated JDRF as a beneficiary in your Will or would simply like more information, please let us know.
Contact Our Team
Need more information about planned giving with JDRF? Contact us for a private consultation:
Lvl 4, 80-84 Chandos Street
St Leonards NSW 2065
Phone: 1300 363 126
JDRF recommends that you consult your solicitor or financial advisors prior to making a planned gift.