Creating a Will encourages us to consider what is really important to us.
We know that protecting the future of our own family and friends comes first. After considering their needs, you may wish to make a gift in your Will that creates a personal, lasting legacy.
There are many benefits to leaving a gift in your Will. It won’t impact on your financial security or independence now, but it will have an enduring impact on future generations. Your gift can also be designed to align with your interests, providing you and your family with a positive source of purpose and pride into the future.
How to leave a gift to the University in your Will
Leaving a planned gift to the University is a very personal decision. Whether you would like to establish a fund in your name, anonymously, or in the name of a loved one, our experienced staff in the Advancement Office are here to help direct your gift to the area that means the most to you. It would be our privilege to help you. All conversations are private and confidential.
- Advancement Office
+61 3 6226 1920 | university.giving@utas.edu.au
Your state or territory Public Trustee can provide advice and can help you find a solicitor. Will-kits to prepare your own Will are available online or from a newsagency or post office, however it is recommended you talk to a legal advisor before drafting your Will to ensure all legal requirements are met.
Sharing your intentions with your family and friends will help them understand and realise your wishes in the future. This can reduce the burden on your loved ones to make difficult decisions about the distribution of your estate.
If you have included the University in your Will or intend to, please let us know. You can choose to remain anonymous, but finding out about your intention and hopes for the future can help us work with you to realise your gifts potential. It assists with future planning and allows us, with your consent, to personally thank you in your lifetime.
There are different types of gifts in Wills
Specific or pecuniary
You are giving the University something specific that you already own. This may include a fixed amount of money (pecuniary gift) or assets such as real estate, artwork, jewellery or shares.
Residual
Your gift to the University comes from the funds and property remaining in your estate after all debts and expenses have been paid and all specific and pecuniary gifts have been disbursed.
Percentage
The gift is a percentage of your total estate, enabling your estate to be shared amongst people and/or organisations without stipulating amounts. This considers the changing value of your estate over time.
Whole Estate
Your gift to the University is your total estate. This type of gift can achieve transformational impact and is often nominated by those who have no family or other beneficiaries.
Wording your Will
We recommend you use the following statements of intent:
I give and bequeath to the University of Tasmania ABN 30 764 374 782, [the sum of $........]/[the following item of my property and effects ……..] to be applied for general purposes. The receipt of an authorised officer of the University of Tasmania for the time being is sufficient discharge to executors and trustees.
I give and bequeath to the University of Tasmania ABN 30 764 374 782, [……..%] of my estate to be applied for general purposes. The receipt of an authorised officer of the University of Tasmania for the time being is sufficient discharge to executors and trustees.
I give and bequeath to the University of Tasmania ABN 30 764 374 782, the whole of my estate to be applied for general purposes. The receipt of an authorised officer of the University of Tasmania for the time being is sufficient discharge to executors and trustees.
I give and bequeath to the University of Tasmania ABN 30 764 374 782, the sum of [$........] to be endowed and the income of such fund to be perpetually applied for support of/the establishment of University scholarships and bursaries. The receipt of an authorised officer of the University of Tasmania for the time being is sufficient discharge to executors and trustees. If you would like to make a gift for another specific purpose, please contact the University’s Advancement Office so we can help you.
If you already have a Will you can still support the University by adding a codicil, a legal provision that explains, modifies or revokes a Will. For advice on writing or amending your Will, it is recommended you consult a solicitor, trustee or accredited Wills and estate specialist.
Get in touch
If you have any questions, please contact us. All information you provide is strictly confidential and non-binding.
Phone: +61 3 6226 1920
Email: university.giving@utas.edu.au
Address: GPO Box 325, HOBART, TAS 7001.
The University recommends that you seek professional legal advice when preparing your Will. It is not able to provide legal or financial advice in the preparation of your Will.