A living gift: Changing the future in your Will
At School of Hard Knocks, we recognise the significance of making a gift in your Will. This is a gift which requires the most careful consideration. It is also the type of gift where we can listen to your wishes and help shape and plan the outcomes.
For so many of our supporters, a bequest is simply the most important gift they will consider in their lifetime. For many it is the greatest gift they will make – a gift made with due care, which is their most significant contribution to a cause for which they have a great passion. A passion we share.
And we recognise that for many people, making a Bequest is a personal and indeed private decision. We respect this, and appreciate your consideration of our School in your future giving plans. However, if you wish to discuss you plans with the School, we would be happy to talk to you, to listen to your thoughts and wishes and to provide advice on how we believe that your gift may best advance our work by looking ahead and taking heed of the needs of the future.
We have provided a basic ‘Wording’ for a Bequest to the School of Hard Knocks together with some information on the types of bequests which may be made to the School. This is very much a list of ‘thought starters’ and we would be happy to discuss your plans with you.
Wording for your Will:
The following is a suggested wording for a Gift in your Will to School of Hard Knocks. “I give, devise and bequeath to School of Hard Knocks ABN 51 168 100 472 of 8 Tyne Street, Carlton Victoria 3053 for its general purposes, free from all taxes and duties, (please specify your gift, e.g.,. the sum of $X or a % of your estate). I direct that the receipt of any director or other proper officer for the time being of that Foundation, will be a sufficient discharge to my Trustees.”
We do recommend that you discuss your wishes with your solicitor or the Office of the Public Trustee who can assist with the preparation of your Will to make a bequest to us.
You may have a preference for the way your bequest to School of Hard Knocks will be used. You might wish for example to make a gift in memory of a particular person or you may want the School to use your donation to fund a particular type of arts education. We recommend discussing your ideas with us, so we can help you determine the most practical and appropriate ways to achieve your wishes.
If you do wish to tell us of your intention to make a bequest to School of Hard Knocks, we would love to thank and acknowledge you, as well as keep you informed on the positive community outcomes achieved by the School.
Types of bequests you can make
Making a bequest may be as simple as adding a Codicil to your existing Will, but please seek the advice of your solicitor before doing so. Full capital gains tax relief may be available to your estate for bequests made to certain charities, including School of Hard Knocks.
A bequest to School of Hard Knocks may be:
- A specific sum of money or nominated asset such as a house or other land, shares and other investments, life insurance, works of art or other valuables
- A bequest of your entire estate, or a specified share, or percentage of your entire estate (after all debts and expenses have been paid)
- A residual bequest, or a specified share or percentage of your residuary estate, after all debts and expenses have been paid, and other gifts distributed
- Your property (such as a house) can pass to School of Hard Knocks after having been used or occupied by a primary beneficiary during their lifetime. School of Hard Knocks would receive this only after a specified period or after the nominated person has passed.
You can also make a gift to School of Hard Knocks during your lifetime. This enables us to:
- Channel the funds into worthy projects immediately
- Celebrate with you, in acknowledging the wonderful contribution you have made
For more information
If you would like more information, or to confidentially discuss your ideas about contributing to the future of the School, please feel free to email our Operations Manager.
Leaving a charitable gift in your will to the School of Hard Knocks will allow us to empower disadvantaged Australians through the provision of innovative arts programs. Regardless of the amount, your gift will enable the School to continue its creative projects in the community and transform the lives of its students.