What is a residual bequest?
This is the type of Bequest that is highly recommended by CCIA. Residual Bequests are simply a gift of whatever is left of your Estate– or a percentage of it – after all other gifts, taxes and debts have been fulfilled. This type of Bequest maintains its relative value and automatically adjusts as the value of your Estate increases.
A Residual Bequests puts you in control as you to decide exactly how much you want to leave to your loved ones, while leaving whatever may be left over to CCIA.
How do I word it?
The wording for a residual bequest is:
I Give and Bequeath to Children’s Cancer Institute Australia for Medical Research ABN 41 072 279 559, in aid of that Institute and for its general purposes, the rest and residue of my Estate, for which the receipt of the Treasurer or other officer shall be sufficient discharge to my Executor for the Bequest.
To let us know about your residual bequest, click here