“Many people before me have contributed so I could love Woodfordia. The gift I have left to Woodfordia in my Will is my repayment to them. It is also my way to pay it forward to those who will come after me. Long may Woodfordia continue: to encourage artists and creatives, and spread excitement, joy, and love to all” Friend of Woodfordia, Stephen Pronk

A bequest or planned gift to Woodfordia continues your legacy. By leaving a gift to Woodfordia in your Will, you can safeguard and nurture Woodfordia for generations to come and make a difference by funding initiatives that matter.

It’s never too early to think about a charitable gift in your Will – now could be the perfect time to create your legacy.

FAQ’s – Frequently Asked Questions

 

Do I have to be wealthy to make a bequest?

No. Even $2,000, $5,000 or $10,000 will make a difference.

A bequest doesn’t have to be ‘cash-at-bank’. Some people allocate a bequest from their superannuation or their estate (see below).

 

Is writing a Will and making a bequest difficult or expensive?

For most people, writing a Will can be simple and inexpensive. You can download a free Will kit, pick up a Will kit from your local newsagents for a small fee, or see the Public Trustee.

If your estate is likely to be complex, it’s a good idea to consult a solicitor. Complexity depends on how many beneficiaries you may have, what types of assets you own, or how big your estate is.

 

Your decisions are locked in once you make a Will.

Not true. You can change and update your will whenever you wish.

 

Once I’ve put my assets in a Will, I lose control of them.

Your assets remain 100% yours prior to execution of your Will.

 

Writing a Will is not a priority.

When people die without a Will, it creates lengthy, expensive and sometimes distressing processes for their family to resolve. State or territory laws may dictate who inherits your estate and may not take into account all the people or causes you care about.

 

Bequests are taxable.

Not all bequests are taxable. Seeking advice on this is recommended.

 

What does ‘my estate’ mean?

Your estate may include any real estate, collections, shares, cash, bank accounts, vehicles, furniture, jewellery, or any other assets owned by you at the time of your death. Your estate may also include superannuation and, possibly, life insurance policies.

If you are unsure, talk with a solicitor or the Public Trustee about what assets are included in your estate, and whether any might not be, e.g., pension plans, savings bonds, shared assets, living trusts.

 

I already have a Will, how can I add to it? 

If you have a will in place, you can complete a Codicil. A codicil is an instruction or amendment which is added to your existing Will and in effect becomes part of that Will. Please discuss any changes to your Will with your solicitor. As a Codicil is a separate document to the Will, it is important that the Codicil is attached to the Will to ensure it is not mislaid or overlooked. 

A copy of a codicil with Woodfordia Inc’s details can be downloaded here.