Ted Noffs Foundation

Where there's a will, there's a way!

How to live on through your legacy…

Too busy to make your Will?

Most people are. It’s so easy to put it off. They don’t realise how much the family can suffer when a person dies intestate (without a Will) – not just financially, but in other ways.

Making your Will can be quick, easy, and inexpensive.

Making a Will can be deeply satisfying and even enjoyable. Thinking of loved ones and thoughtfully providing for them can ensure that your Will truly reflects your wishes.

What happens if you have no Will?

If you die without a Will (intestate) the State steps in and your property is distributed according to State law.

This means that your heirs may have to navigate a maze of legalities that the simplest Will could have eliminated.

The State must anticipate every sort of problem or dispute which may occur and attempt to deal with each one fairly. The result is a blanket, all-purpose set of rules. Unfortunately, the State’s plan usually means your property will not be distributed in accordance with your wishes. Some States’ laws give most of the estate to the surviving spouse. Others favour the children.

What happens when you make your Will?

• You exercise the right to direct the distribution of your property.
• You provide for your heirs in the way you choose, rather than as State laws direct
• You make sure that strangers won’t be forced to distribute your property according to general formulas devised by your State of residence.
• You keep your property from going to people to whom you may not wish to give.
• You may safeguard your estate from unnecessary court costs.
• You take advantage of a chance to provide for loved ones and your favorite charitable causes.

If you already have a Will, you may like to check to see ….

• It is an effective document.
• Is it up-to-date?
• Are the beneficiaries still living? Are their needs still the same?
• Am I still happy with my choice of executor and alternative executor?
• Do I still own the specific properties mentioned?
• Have I acquired new property?
• Am I able and willing to add bequests to charitable causes I support?
• Should I review the Will with my solicitor?

What happens if your Will isn’t valid?

The court will proceed as if you had left no Will.

You may wonder, "What could make my Will invalid?

Perhaps it was handwritten in a State that doesn’t honour handwritten Wills.

Your Will may not be in the form required by New South Wales law.

Perhaps it was valid in the State in which it was made, but not in NSW

If you have married since making your Will (marriage invalidates a Will unless it is made in contemplation of marriage).

Perhaps your heirs have all died or the property named in your bequests was given away years ago. Or your instructions may be unclear and subject to various interpretations.

One way to make sure your Will is valid, and stays valid is to have it drawn up by a solicitor, and then checked regularly to discover if changes are warranted.

Ideas for charitable bequests

Your Will can be a convenient vehicle for making a charitable gift of lasting value. Some suggestions:

• Help the causes you’ve always supported, the ones that will miss your assistance.
• Help those you’ve always admired but never been able to help.
• Consider a gift to a charitable institution as a living memorial for a loved one.
• Remember that gifts of property are often appropriate and welcome.
• Through an annuity provision in your Will, you can provide payments for life to a relative or friend and also make a gift to a charitable organisation.
• the bequests are satisfied.

NOTE: When you name a charity in your Will, be sure to use its full, legally incorporated name to avoid disputes as to which charity was the intended beneficiary.

Three ways to give through your Will

1. Percentage: This is the most flexible way to give; the gift automatically changes with the size of the estate.
2. Fixed Amount: This is the most common type of bequest (but not always the best); it can, of course, be changed over the years.
3. Residue: This is the gift of whatever property is left over after other bequests have been fulfilled.

When you make a bequest or legacy in your Will , you help guarantee that the services of organizations such as the Ted Noffs Foundation Will continue to be available to those in need of them.

Many people support the work of the Ted Noffs Foundation through bequests from their estates.

We suggest that if you are considering a gift of this nature, you should consult your legal adviser.

The Ted Noffs Foundation suggests the following wording for use in the preparation of Wills incorporating specific legacies and residuary bequests.

Specific Legacies

“I give to the Ted Noffs Foundation, the sum of $……………. for its general purposes free of all duties and taxes payable upon or in consequence of my death and I declare that the receipt of its Chief Executive, Treasurer, or other authorised officer shall be sufficient discharge to my executors.”

Residuary Bequests

“I give, devise and bequeath the rest and residue of my estate to the Ted Noffs Foundation for its general purposes and I declare that the receipt of its Chief Executive, Treasurer, or other authorised officer shall be sufficient discharge to my executors.”