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> How Bequests
> Making a Bequest
> Forms of Bequest
> Standard Wording for Bequests
How BEQUESTS help the Burnside Hospital
Foundation to Build on a tradition of care
official handover of Attunga by Mr Otto Von
Rieben to the
City of Burnside in
A Bequest or gift from your will is a strong statement of your commitment and concern for others.
For many supporters, a gift from their estate enables them to make a significant and lasting difference to something that really matters. The rising value of family homes in recent years can mean that a person’s estate is much more valuable than they may realise, and may allow them to make a gift that is much larger than any previous support they may have given.
The Burnside War Memorial Hospital was founded on a gift - the gift in 1944 of Attunga house and its 4.5 acre grounds to the people of Burnside by noted local philanthropist Mr. Otto Von Rieben. While this was not a bequest, but a gift from Mr Von Rieben during his lifetime, his very generous gesture ensured that the community’s vision of creating a hospital as a memorial for those who served in war became a reality. The house and grounds were used for some years as a nursing home while the community raised the funds required to build its much-needed modern hospital. Sadly, Otto Von Rieben did not live to see the official opening of the community hospital that he helped to create.
Since the opening of the Hospital in 1956, it has been fortunate to receive a number of bequests that have been used to improve the services and facilities available for patients. A major bequest in the early 1990’s enabled the hospital to acquire neighbouring property in Moore Street to use as consulting suites and a car park area. The gift is permanently remembered by the naming of the consulting suites as Godfree House, in honour of Mr Godfree’s generous support.
A gift from your estate is a strong way to say you care about our role in the community, and that you believe we will use your gift wisely and well for the benefit of others. Bequests can also assist the Foundation to plan for the future needs of the hospital. The Burnside Hospital Foundation honours the trust of every bequest, by using it to maintain the significant value of the hospital in our community to benefit generations to come.
While we understand that a person who intends to make a bequest may not wish to advise our office of their planned gift – which may not be realised until many years in the future - we would sincerely appreciate the opportunity to thank the donor now for their intended generosity. On occasions, it also may be appropriate to discuss the best way to use the intended gift, or how the bequest may be recognised and acknowledged when it is received, perhaps by the donor’s name being perpetuated in some way. A bequest gift may also be able to be perpetually named for a dearly loved family member or spouse.
A bequest may take a number of forms. It may be a gift of a specific sum of money, the gift of a percentage of the estate, or a gift of property such as real estate, shares, or artworks.
While you may draft a Will yourself, it is strongly recommended that you seek advice about the appropriate procedures from your Solicitor, Tax Adviser or a Trustee Company.
Making a Bequest to the Burnside Hospital
It is important to review your will regularly to ensure that it always accurately reflects your wishes. This is particularly important when you have nominated specific monetary sums within your will, as inflation may erode the value of your gifts to family members, loved ones or charities you wish to support. It is also vital to review your will if family details change through divorce or death. Please always seek professional advice from your solicitor or Trustee Company before drafting a new will or altering any existing will.
Forms of Bequest
||A nominated and specific sum of money given from the value
of your whole estate.
Property / Asset
|This is the gift of a specific item you may own, such as homes, flats, land, commercial properties, farms and so on; debentures, shares, or life insurance policies; or items such as works of art, collections, jewellery or furniture. Please note that any such gifts received by the Burnside Hospital Foundation will be realised and the proceeds applied to supporting the Burnside War Memorial Hospital Inc.
||A percentage of the value of your whole estate.
||The remainder of your estate, after all specific legacies and
gifts of property have been made. This may be given to one beneficiary,
or shared in percentages between beneficiaries.
Standard Wording for Bequests
This is a standard wording
that may be used for either a simple
legacy or a
specific bequest :-
“I give ………(insert description of gift – that is, a specific amount, a specific item, or a percentage/fraction of whole estate or residual estate)……… to the Burnside Hospital Foundation Incorporated for its general purposes, and I direct that the receipt of the chief executive or other proper officer for the time being shall be a full and sufficient discharge to my trustees.”
Duties and taxes are not payable on any gifts to the Burnside Hospital Foundation, which is an Income Tax Exempt Charity, and an endorsed Deductible Gift Recipient by the Australian Taxation Office.
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