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What is a bequest?
Although there are different types of bequests, they all effectively refer to the concept of a legacy gift.
Any size of bequest—or legacy gift—is an incredible way to change someone’s life for the better. A bequest can involve a particular dollar amount, a specific item, or a percentage of your estate (a term which refers to your total assets).
Before you start to think about the type of bequest that best suits your personal story, it’s important to consider your wishes. What is important to you? How would you like to be remembered? Is there a special way to honour your legacy, or support something that has been meaningful throughout your life? We’re committed to honouring your wishes in a way that reflects your life story.
Learn about different types of gifts and bequests
While there are many ways to give to Guide Dogs, every contribution is crucial to our life-changing work in the community.
Some of the most effective ways to support Guide Dogs through a bequest include:
Residuary:
A residuary refers to the act of gifting the remainder of your estate after all gifts have been dispersed to specific individuals or organisations in accordance with your Will. A residuary could include any funds or property left over after your chosen loved ones receive gifts, and any administrative costs or funeral expenses are settled. For example, a person may decide to gift properties to their loved ones, use their personal savings to pay for the costs of a funeral service, and gift any remaining personal savings to a charitable organisation.
A percentage-based bequest:
This can include a percentage of your general estate (i.e. all the funds, properties or assets against your Will), or a percentage of the residuary once gifts and other costs have been processed in accordance with your wishes.
Pecuniary gift:
A pecuniary gift is a specific contribution of cash funds. An example might be that you choose to leave $1,000 to support the training of our world class Guide Dogs.
A specific asset:
This type of bequest involves giving a particular piece of real estate, specific shares or other items, like artworks.