Taronga Conservation Society Australia Bequest Ambassador Bradley Trevor Greive with benefactor Gretchen Dechert and Zoo Keeper Dave Schaap.
From the left - Bradley Trevor Greive, Bequest Ambassador, Gretchen Dechert, generous donor and bequestor and David Schaap, Keeper

 

Planning a Will can be complicated.  For a start, you’ll want to consider other beneficiaries such as family and friends.  And there are various options when planning a charitable gift.  For example, a legacy can be a fixed amount, or items of value such as shares or superannuation.  Or you may choose to leave the remainder of your Estate to Taronga after other specific gifts have been distributed.  We recommend contacting a solicitor or the Trustee and Guardian when planning your Will. 

Guidelines for leaving a gift in your Will to the Taronga Conservation Society Australia

If you choose to remember the Taronga Conservation Society Australia in your Will, you may consider the following options:

Residuary bequest

This is a gift of whatever remains of your Estate (or a percentage thereof) after all other gifts, taxes and debts have been fulfilled.  As it is not specific amounts of money, a residuary bequest keeps its value regardless of inflation over the years and is often stated as a percentage of the Estate.  It means that the gift you include today is worth just as much when the time comes to put it to work to help Taronga care for wildlife.

Suggested wording:

"I give and bequeath to the Taronga Conservation Society Australia for its general purposes the residue of my Estate and I declare that the receipt of the Chairperson of the Taronga Conservation Society Australia or the Chairperson's delegate shall be sufficient discharge to my Executor/s for this bequest."

Specific bequest

This is a gift of a specific item, such as  shares, superannuation and so forth.

Suggested wording:

"I give and bequeath to the Taronga Conservation Society Australia for its general purposes all my share and interest in my [share portfolio/superannuation etc] at my death absolutely and I declare that the receipt of the Chairman of the Taronga Conservation Society Australia or the Chairperson's delegate shall be sufficient discharge to my executors for this bequest."

Pecuniary bequest

You may wish to make a gift of a sum of money to the Taronga Conservation Society Australia.

Suggested wording:

"I give and bequeath to the Taronga Conservation Society Australia for its general purposes, the sum of $ ......... and I declare that the receipt of the Chairperson of the Taronga Conservation Society Australia or the Chairperson's delegate shall be sufficient discharge to my Executor/s for this bequest."

Contingency bequest

In the event that your executor cannot distribute your Estate as planned (for example if a nominated beneficiary predeceases you) you may choose to nominate the Taronga Conservation Society Australia as a contingency beneficiary for your bequest having failed.

Suggested wording:

"In the event that any of my nominated beneficiaries should predecease me then their bequest shall not fail but I give and bequeath the share of my deceased beneficiary to the Taronga Conservation Society Australia for its general purposes and I declare that the receipt of the Chairperson of the Taronga Conservation Society Australia or the Chairperson's delegate shall be sufficient discharge to my executors for this bequest."

Trust

You may care to consider the establishment of a trust whereby your executor and trustee holds your Estate upon trust to pay the income to nominated beneficiaries such as your partner, relative or other next of kin during their lifetime.  Upon the death of those beneficiaries, the assets pass to the Taronga Conservation Society Australia.  Your Will must set out detailed provisions for the operation of the trust.  Your legal adviser or a specialised Estate Planner will be able to assist you in the appropriate drafting of the trust provisions.

Who can contest my Will?

The best way to avoid a Will being contested is to consult a solicitor specialising in Will making.

Those who can make a claim on an Estate can include:

  • a husband or wife
  • a person who was living in a de facto relationship
  • a child
  • a former husband or wife but not former de facto
  • someone who was dependent or partly dependent and was a grandchild or was a member of the same household at any time
  • a person living in a close personal relationship

How can I protect my wishes?

You can help safeguard your Will by building up a history of giving to Taronga to show there is a strong connection between you and Taronga.  Donations need not be large but should be as regular as possible.

Adding to an existing Will

If your existing Will is satisfactory but you would like to include a gift to the Taronga Conservation Society Australia, you can add a codicil.  It must be signed and witnessed in the same way as your Will.  Always seek legal advice when making any changes to your Will.

For a confidential chat, please contact Sharon Hodgson or Fran O’Brien at the Taronga Foundation:

Sharon Hodgson, Senior Relationships Manager
(Monday to Friday)

Phone: +61 2 9978 4689
Email: shodgson@zoo.nsw.gov.au 

Fran O’Brien, Bequest Officer
(Monday to Wednesday)

Phone: +61 2 9978 4573
Email: fobrien@zoo.nsw.gov.au