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.
Reimagine the future with a gift in your Will
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.
You can read about the impact of a gift in your Will, and some of our bequestors’ stories of why they have chosen to support the Florey this way, in our Gifts in Wills brochure.Read the Gift in Wills brochure (PDF, 3MB)
Leaving a legacy gift
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. We recommend speaking with your solicitor for independent advice when updating your Will. There are several ways to include a bequest for The Florey:
- 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 our 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. We would welcome a discussion around any gift in perpetuity to ensure its effectiveness.
When deciding to include a gift to The Florey in your Will, we encourage you to think about what’s important to you. Would you prefer to support a range of research so your gift can be applied where the need is most urgent, 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.
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 welcome you to The Florey Society and our community of gift in Will supporters.
We would love to hear from you, whether to discuss leaving a gift in your Will, to let us know that you have now included this special and thoughtful gift in your estate plans, or to request more information. Please contact Bequest Manager, Nola Wilmot at [email protected] or call 1800 063 693. Alternatively you can use the enquiry form below.