Types of bequests

In deciding how to leave a ‘gift' or bequest in your Will, you should seek legal advice before choosing the type of bequest which best suits you.

A general bequest

General bequests allow the Centre's Director and Board to decide how to use the funds by allocating them to the area of research where they would be most useful. General bequests may comprise the whole or residue of your estate, a proportion or a fixed amount (legacy).

A share of the Estate

This is the most common form of bequest. It does not depend on the size or value of your estate, nor any change in your financial circumstances you may experience after writing your Will and before you die. For example, you may choose to leave your favourite charity a proportion of your Estate, or you may direct that a number of charities share your Estate. It is preferable to specify a proportion of your estate rather than a specific sum of money.

The residue of the Estate

If you have included one or more fixed amount bequests or legacies in your Will, then whatever remains is known as the residue. The residue can be left as a whole or shared amongst several beneficiaries in the proportions you request.

Life interest

You may wish to use your bequest to support someone during their lifetime (for example, by allowing them to occupy your house) but have the bequest revert to the Heart Research Centre upon their death.
To find out more about the work of the Centre, please contact the Director by telephone on (03) 9326 8544.