Guidance on bequests
A bequest is a gift passed to an organisation or individual as part of your Will. There are several types of bequests including:
- a residuary bequest (either a portion of the estate or remainder of the estate once all other bequests and costs have been paid)
- a pecuniary bequest (a specific sum of money)
- a specific bequest (asset such as real estate, shares and/or works of art).
No matter what form your bequest takes, we can assist you in ensuring that it will achieve exactly what you want it to. If you are considering leaving a bequest to VU, we encourage you to contact the Advancement Office ([email protected]) so we can provide further guidance on the process.
Victoria University cannot provide donors with any legal or tax advice in relation to a proposed gift. As such, you should seek independent legal advice before preparing your bequest, but some indicative wording is set out below as a guide:
General purpose wording: “I give Victoria University ABN 83 776 954 731 [insert details of gift] for the general purpose of the University.”
Specific wording: “I give Victoria University ABN 83 776 954 731[insert details of gift] (‘the bequest’). It is my preference that the bequest support [insert purpose].”