Environment Victoria | How to leave your legacy in your Will
1Give 0Bequests How to leave your legacy in your Will
Your Will is a very important document. To ensure that it is legally valid, properly reflects your intentions and is suitable for your circumstances, it should be prepared by a solicitor or trustee company. You should also have your Will checked and updated every few years or when your circumstances change.
Different ways of leaving your Forever Green legacy
A Forever Green Bequest does not necessarily have to be a large amount of money. There are many different types of bequests you could make in your Will to ensure that your loved ones are provided for and you can continue to protect Victoria’s environment after you are gone.
Whichever type of bequest you may choose to make, Environment Victoria would prefer that your bequest is given to us to be used for whatever purpose we believe is most effective at the time.
Here are some examples of Forever Green bequest options:
A residual gift is often the best option if you have family to provide for as it ensures your relatives and friends are looked after first. Leaving a residual gift means that after your Will has made all necessary provision for relatives, friends and debtors, the residue of your estate (remaining assets) are passed to the organisation and/or individuals named as your residuary beneficiaries. Your residual gift can also be left as a specific percentage of the residue of your estate.
Leaving a specific percentage of your estate assures that inflation will not reduce the value of the bequest you intended to work for the protection of Victoria’s environment.
You can gift specific items of property (such as jewellery, shares, art work or real estate) in your Will provided that we are given permission to sell the item to raise cash funds to protect Victoria’s environment. Environment Victoria can also be the sole beneficiary of a life insurance policy.
You can gift a specific sum of money. Please note that this option is susceptible to value reduction due to inflation over the years so it will need to be reviewed regularly.