Making a gift in your Will
Making a gift in your Will is an investment in life-saving research
Thanks to the generosity of many individual donors and corporate supporters the Intensive Care Foundation to date has awarded grants of more than $3million to fund research aimed at increasing the survival rate of patients in critical care and improving the quality of life of those survivors.
By remembering the Foundation in your Will you can help us improve the care and treatment of critically ill patients
We appreciate that making a Will is a very important and private act. Of course, it is a priority to provide first for family and loved ones. However, once your primary responsibilities have been discharged, we ask with hope and humility that you help the Intensive Care Foundation with a gift towards our important research grant program.
Your gift, large or small, will be gratefully accepted and will be put to immediate use by growing our research grant program, saving and enhancing lives and giving important opportunities to talented early-career researchers.
How to include a gift to the Intensive Care Foundation in your Will
- It is not difficult to include a gift to the Foundation in a new Will or add a gift to an existing Will.
First, it is important to decide what type of gift (bequest) you would like to make.
There are different types of bequests: - A residuary gift (ie a share of the residue of the estate once legacies and costs have been paid)
- A percentage of the estate
- A pecuniary legacy (a specific sum)
- An asset, such as real estate, shares and/or a specific item, such as a piece of equipment, work of art or a motor vehicle
You can also tell us whether you would like your gift to be used for a specific purpose or for any research grant we choose to apply it towards.
A Will is a very powerful legal document and great care must be taken in drafting or amending it. Many Wills are not drafted with the right care and skill, and therefore have validity and certainty problems. When such a problem arises, the gift can either fail altogether (which means the Willmaker’s wishes cannot take effect) or the court must decide what happens (this is extremely expensive and stressful).
Accordingly, we recommend that you consult with a lawyer to draft or amend your Will.
To assist your lawyer, we have prepared the following options of clauses about our Foundation:
Option 1
I give [insert percentage] of my residuary estate [or residue or other consistent wording as used in the Will to refer to the balance remaining after payments of specific gifts and costs] to the Intensive Care Foundation, ABN 80 130 947 581 of Level 1, 101 High Street, Prahran, Victoria, 3181 for the purpose of [funding research grants] OR for its general purposes.
Option 2
I give [insert dollar amount or a specific asset] to the Intensive Care Foundation,
ABN 80 130 947 581 of Level 1, 101 High Street, Prahran, Victoria, 3181 for the purpose of [funding research grants] OR for its general purposes.
AND add these 2 paragraphs after either one of the above:
And the receipt by the appropriate officer of the Intensive Care Foundation will be sufficient discharge to my executors/trustees (choose word consistent with the wording used in the Will) and my executors/trustees (choose word consistent with the wording used in the Will) are not required to see to the application of the gift.
If this gift to the Intensive Care Foundation cannot take effect completely or in part, to the extent that this gift cannot take effect, it will pass to the charitable organisation or organisations in Australia which my executors/ trustees (choose word consistent with the wording used in the Will) consider most nearly fulfils or fulfil the objects I intend to benefit in the share or shares my executors/trustees (choose word consistent with the wording used in the Will) think fit.
Finally, if you are considering leaving a gift to the Intensive Care Foundation in your Will, we thank you most sincerely.
If you have already included a gift to us in your Will, please let us know so we can thank you personally and acknowledge you now.
If you would like to make a lifetime donation, discuss any issues relating to gifts in Wills or share your thoughts and wishes in the strictest confidence, please contact: info@intensivecarefoundation.org.au