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MAKING
A BEQUEST |
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Information for persons making bequests in wills and their legal
advisors. I
hope you will find this information helpful at a time when you are
considering your Will. Some people
have found they are not able to help the Parish financially in a substantial
way during their life but the contents of their Will can assist the Spiritual
works of the Parish in the future.
Future generations would be grateful.
Please do not hesitate to contact me or the Parish Manager if you need
more assistance. Fr Dan Ryan The WillA
will is a very personal document which includes directions as to whom should
receive assets and how those assets should be distributed. A distribution plan might begin with a
listing of all assets owned with an estimated value for each asset. Preliminary decisions can then be made on
the distribution to the spouse, children, other relatives, and friends as
well as to the Surfers Paradise Catholic Parish and other charitable
organizations. If
a Will already exists, simple additions or changes can be made through a
codicil. More complex changes may
require a new Will. In either case,
professional advice over the proper form and language should be sought to
accomplish the distribution plan and to ensure that the Will confirms with
State laws. Power of AttorneyPower
of Attorney is the legal appointment of a person or organization to make
decisions, sign documents and generally act on behalf of an individual. Several kinds are available. A suitable
power can be used to provide responsible management of all affairs and assets
in times of illness, injury, mental incapacity or even an extended holiday.
It is recommended that a solicitor is consulted for advice. The Parish Finance BoardThis
Board provides an extra dimension to the bequest program. Amongst
other things, it provides information for intending benefactors and their
legal advisors. Types of BequestsThe
Parish welcomes bequests under wills of real estate and personal including
money, art works, shares, bonds, assignments of life policies and other
assets. Designating the Purpose of a BequestUnrestricted The most
useful type of bequest is unrestricted, which allows the Parish discretion to
allocate funds wherever the need is great. Directed Alternatively, a
bequest may be directed to support a special interest. This may be used to build and maintain
facilities or may underwrite teaching or missions in a designated area. Other options include funding a group
within the Parish, scholarships, purchase of library books or equipment and
many others. If a will or trust
provides the Parish with a special purpose bequest, it is important that the
bequest be described as broadly as possible and that it include a clause to
allow for other uses under changed conditions in the future. Endowed A bequest may be
paid into an endowment fund, with the capital protected and interest paid out
for specific needs so the Parish may benefit from the gift in
perpetuity. It
is Parish policy not to levy any charge against the trusts it manages every
dollar is used for the purpose for which the trust is set up. Bequest ClausesSuggested
clauses for bequests to the Surfers Paradise Catholic Parish are as follows: Unrestricted - I give (my estate) or (a specified
portion/the residue of my estate) or (the sum of $
) to the Corporation of
the Trustees of the Roman Catholic Archdiocese of Brisbane for the use and
benefit of the Religious, Charitable and/or Educational purposes of the
Catholic Parish of Surfers Paradise situated at Clear Island Waters in the
State of Queensland. I declare that
the receipt of the Parish Priest shall be sufficient discharge to my
trustees. Specific Purpose suggested
similar wording as above, with the inclusion of an additional clause after
the word The
Parish Finance Board has directed that the use of specific purpose gifts of
this kind must be kept as closely as possible to the wishes expressed by the
benefactor. However, it is recognized
that a minority of donors may be so firmly committed to a particular cause
that they wish to direct their bequest exclusively in that direction. For them, the following is suggested: Directed Purpose suggested
similar wording as above but the directed purpose should be stated as widely
as possible. Recognition Recognition
of bequests to the Parish is available depending on preference and level of
donation. Gift InformationFor assistance or additional information on the various methods of
including the Surfers Paradise Catholic Parish in a Will or for guidance in
planning any type of gift, please contact The
Parish Priest Surfers
Telephone: 07 5572 5433 Facsimile: 07 5572 5262 Email: surfers@bne.catholic.net.au
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