Include a gift in your Will

Support brain research with a gift in your Will

Leaving a gift in your Will is a meaningful way to contribute towards a better future through brain research. Bequests of all sizes have a vital role in funding this future, helping to understand the inner workings of the brain and to develop new treatments for neurological and mental health conditions.

Many people find that they’re able to give more generously through their Will than they ever could during their lifetime. Even a small percentage of your estate can have a significant impact on our research.

Leaving a legacy gift

Your bequest is a powerful legacy, empowering The Florey to solve the mysteries of the brain and mind – giving hope to the 1 in 5 Australian’s living with a neurological condition. Together with other generous gifts bequeathed to us we are able to ensure the most urgent needs are met and research projects are continued without interruption.

After making specific provisions in their Will for family and friends, many supporters choose to support medical research by leaving their remaining estate or a portion of it to The Florey. There are several ways to include a bequest for The Florey when writing your Will.

We recommend speaking with your solicitor for independent advice when updating your Will. Information for solicitors and executors can be found below.

Information for solicitors and executors

Types of gifts

Residual (retains value)

This is a percentage of, or the balance of your remaining estate after your loved ones and expenses are provided for. This is the type of bequest we encourage The Florey supporters to consider because the value does not depreciate over time.

Pecuniary

Leaving a pecuniary bequest means you are nominating a specific amount of money to The Florey. If you leave a pecuniary gift we suggest you regularly check your Will to ensure your gift retains its intended value over time.

Assets

The Florey is a deductible gift recipient and can receive certain assets without incurring capital gains tax (CGT).  This means we can maximise the value of asset gifts such as property and shares whereas your estate would be liable to pay CGT. Less tax paid by your estate means more value for your gift.

Gift in perpetuity

By leaving your gift to The Florey Future Fund, your estate will provide a significant boost to grow a perpetual stream of income for research into the future. Significant contributions of $100,000 or more are recognised in perpetuity.

Suggested wording for a Will

I give to The Florey Institute of Neuroscience and Mental Health, ABN 92 124 762 027

A. ____________ % of my estate OR

B. the residue of my estate OR

C. ____________% of the residue of my estate OR

D. the sum of $____________OR

E. ____________(insert specific property or shares)

to be applied for the purposes of medical research by The Florey in such a manner as its directors may determine. I declare that the receipt of The Florey’s authorised officer will be a sufficient discharge to my executors who will not be bound to see the application of this gift.

For a gift to be applied to a specific research area, add this clause:

It is my wish that, without creating any binding trust or other obligation on The Florey or its directors, the gift will as far as possible be applied for the study of

________________(insert research area).

The Florey Society

The Florey Society was established to acknowledge the growing number of people who have left a legacy gift enabling critical medical research after their lifetime. When you let us know you have included a gift to The Florey in your Will you will be joining a group of like-minded people who value the role of medical research in improving lives.  We will update you with our latest research discoveries, invite you to special events and provide opportunities to meet and hear from our scientists.

We understand that choosing to leave a gift in your Will to The Florey is a very personal decision. While there is no obligation to let us know about your intentions, we would encourage you to reach out to The Florey so we can thank you and warmly welcome you to The Florey Society and our community of gift in Will supporters.

Please contact Bequest Manager, Nola Wilmot, via [email protected] or call 1800 063 693.

 

Including The Florey in your Will

When deciding to include a gift in your Will to The Florey we encourage you to think about what’s important to you – would you prefer to support a range of research at The Florey or specify the gift is used in a particular area or for a certain condition? This decision will enable a solicitor to write or update your Will according to your wishes. The Florey is exempted from income tax, meaning that assets such as property and shares/equities may also be named in the Will.

Contact us

We would love to hear from you, whether to discuss leaving a gift in your Will for medical research or to let us know that you have now included this special and thoughtful gift in your estate plans.

Please contact Bequest Manager, Nola Wilmot, via [email protected] or call 1800 063 693.