Information for solicitors and executors
Information for Solicitors
Thank you for helping to make a Will that includes a bequest to the Florey Institute of Neuroscience and Mental Health. We acknowledge the special role that Solicitors, Trustee Companies and Executors play in facilitating charitable gifts that contribute towards the institute.
To make sure that your client’s gift reaches us, it is important to:
- Use our correct registered name: Florey Institute of Neuroscience and Mental Health;
- Include our ABN: 92 124 762 027
If your client would like their gift to be used for a specific purpose, please contact our bequest team first to make sure that their wishes can be carried out. By encouraging them to share their wishes with their family, you can also help prevent issues from cropping-up further down the track.
Correct wording for a Will - Please find below the correct wording for a bequest to the Florey. If you’d like a downloadable copy of this click here.
I give to the Florey Institute of Neuroscience and Mental Health, Melbourne, ABN 92 124 762 027
a. I give _______% of my estate OR
b. I give the residue of my estate OR
c. I give _______% of the residue of my estate OR
d. I give the sum of $_______ OR
e. I give ________ (insert specific property or shares)
to be applied for the purposes of medical research by the Florey in such 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 Will to be applied to specific research, insert this clause:
It is my wish that, without creating any binding trust or other obligation on the Institute or
its Directors, that the gift will as far as possible be applied for the study of
___ (Insert research area) ____________________________________
Remember to discuss the following legal points with your client as they may enhance their bequest.
- If your client wishes to allocate their superannuation to the Florey, the super balance needs to be left to their estate, in which case it will be dealt with as determined in the Will. This is because superannuation is not automatically directed through an individual’s Will.
- The Florey Institute of Neuroscience and Mental Health (ABN 92 124 762 027) holds Deductible Gift Recipient (DGR) Status and is fully Tax Exempt.
- The Florey is exempt from paying capital gains tax, and therefore any “in specie” transfer of CGT assets such as investment properties or shares (instead of a sale of those assets by the executors and a transfer of sale proceeds) may result in a reduced tax liability.
Information for Executors
We thank you for making sure that someone’s bequest to the Florey is properly administered. We’d be grateful if you could please send the following information to us:
- A covering note that includes your contact details, as well as the full name and last known address of the deceased person;
- A copy of the final Will and any codicils; and
- A statement of estate accounts
When you’re ready to distribute the estate, please post a cheque made payable to Florey Institute of Neuroscience and Mental Health to:
The Florey Institute of Neuroscience and Mental Health
30 Royal Parade
Parkville, Victoria, 3052,
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We would also like the chance to thank the Will maker in person and invite them to join a community of other wonderful people who support us in this way. Please ask them to contact firstname.lastname@example.org or call +61 3 9035 6789
Brain health affects all Australians. You can support our research by making a donation or a bequest.