Gifts in Wills
Many people contribute and donate to various causes and Foundations throughout their lifetime, and many people continue to make that contribution beyond their life. Leaving a bequest for medical research through a gift in your will is a wonderful way to ensure that future generations will benefit from your legacy.
How you can help when you make a Will
Would you like to leave a legacy to change lives for the better? By leaving a gift in your Will to LMRF, you can potentially make a lasting impact.
Why write a Will?
If you have your wishes for the distribution of your assets and personal items written down in a clear and unambiguous Will, then it will be much easier on your family at a time of mourning. You can rest assured that you have protected your loved ones and made other important provisions that can leave a legacy for the future of others. A Will can discourage disputes as to how your estate will be distributed. For this reason, it is recommended to have a solicitor draw it up for you. But before you discuss it with your legal adviser, it is wise to think through and have a very clear picture of all your assets and how you would like them distributed on your passing.
When and how to amend your existing will
Life changes such as becoming a grandparent, a significant change to your assets, the need to appoint a new Executor of the Will or the loss of a loved one, are generally triggers for revising your Will. However, if you would like to make smaller changes to your Will such as including a bequest to LMRF, you don’t have to prepare a new document but you can simply add a codicil to your current Will. Your solicitor can arrange this for you.
If you have supported Lions’ International throughout your life, it is clear that you value their work. Leaving an asset or funds to LMRF is one way that you can continue your support in an area that has enormous potential and power to change lives for the better well into the future. Whether as a part of your new Will or as a codicil to your existing will, a bequest is quite easy to arrange. This can be done in one of several forms:
- A gift of a specified sum of money to an individual or an organisation such as Lions Medical Research Foundation.
- Leaving a specified asset such as a property to a person or an organisation.
- A percentage of your estate. In this way you can share your assets between nominated individuals and organisations without specifying dollar amounts or allocating individual assets.
- A residual gift where an individual or organisation receive the balance of the estate after all other conditions in the Will have been met.
- An endowment is a significant sum (usually given in the form of a bequest) that is invested so that the capital sum is not spent, but it generates an annual income stream for a charity such as LMRF.