For solicitors and executors
However, we are extremely conscious of the need to respect the wishes expressed in the terms of the Will – if the Will specifies an area of research to support, this will be upheld. If you have any questions about the scope of our work, and whether it matches the terms of the Will, please get in touch through our contact form below.
Bequests should be mailed to the Garvan Research Foundation, 384 Victoria Street, Darlinghurst 2010, or transferred by direct deposit. Please call us on 02 9295 8110 for our bank account details.
The correct wording for a will
"I give to the Garvan Institute of Medical Research, ABN 62 330 391 937 free of all duties
a) All of my residuary estate (OR)
b) percentage of my residuary estate (OR)
c) The sum of $ (OR)
d) [List asset or assets]
to be applied for the purposes of medical research by the Institute OR for the purpose of [specify research area of your choice]. I declare that the receipt of a Director of the Institute or other authorised officer will be a sufficient discharge to my executors who will not be bound to see to the application of this gift."
Please be aware of the following legal points
These may significantly enhance your client’s bequest.
Deductible Gift Recipient Status
The Garvan Institute of Medical Research (ABN 62 330 391 937) holds Deductible Gift Recipient (DGR) Status Item 1 and is fully Tax Exempt. As the Fundraising and Marketing division of the Garvan Institute, the Garvan Research Foundation (ABN 91 042 722 738) also holds Deductible Gift Recipient (DGR) Status Item 2 and is fully Tax Exempt.
Capital Gains Tax on estate assets & transfer of shares ‘in specie’
As Garvan Institute of Medical Research is fully Tax Exempt, the transfer of all Capital Gains Tax assets such as real estate or shares to Garvan will result in significantly reduced tax liability, rather than pre-selling those assets by executors and transferring the sale proceeds.
Superannuation
Superannuation is not automatically directed through a person’s Will. If you wish to assign your client’s superannuation to Garvan, the super balance will need to be left to their estate, in which case it will be dealt with as determined in the Will.
Honour Board
We take great delight in honouring bequests – they are critical to continue our mission to find the answers to disease into the future.
We like to acknowledge bequests by placing the names on the Honour Board in our building in Darlinghurst. Loved ones and Executors are welcome to visit and view our Honour Board when it is convenient for them. Please let us know if the bequestor’s loved ones would prefer the gift not to be acknowledged in this way.
Contact our Bequest Officer
Contact Donna Mason, Bequest Officer at Garvan if you would like information about leaving a gift in your Will to Garvan and becoming a Partner for the Future. Your enquiry and details will be treated in the strictest confidence and without any obligation.
Phone: (02) 9295 8559
Email: bequests@garvan.org.au.
For more information, please download our helpful bequest resources below:
