Bequests

Having a Will is important

Your Will makes it easier for your family and loved ones to follow your wishes in distributing your estate. The inheritance laws in Australia are complex and having a Will ensures your estate and assets are administered in the manner you intended.

It is important you seek independent legal advice from a solicitor so that your instructions are followed and that your Will complies with all legal requirements.

What is a Bequest?

A bequest is a gift made in your Will. You can make bequests to individuals, companies, associations, communities or charities.

Leaving a gift in your Will is one of the most generous and thoughtful ways you can say thank you for all the good things in your life.

However, we regard your gift as a very personal and private decision and we suggest that you consult with your legal advisers as they will be the best people to advise you how to make a bequest or change your Will.

Types of Bequests

Specific Bequest

The simplest form of bequest is a 'specific bequest'. This may be money, insurance policy proceeds or other assets that you name as a gift to the KPMA Development Account.

Residual Bequest

After you have specified your gifts to family, friends and others, you can nominate to leave part or all of what is left of your estate (the 'residue') to the KPMA Development Account. Many people find this type of bequest to be an excellent solution for 'leftover' amounts.

Percentage Bequest

Another alternative is to make a 'percentage bequest'. Through this method you can nominate to leave a percentage of your total estate to Kairos.

How to make a bequest to Kairos

Making a bequest may be as simple as adding an additional statement to your existing Will. For example:

I give…. (specify dollar amount, life insurance policy number, share of estate or other details) to

Kairos Prison Ministry
Australia

Or

I give … (specify dollar amount, life insurance policy number, share of estate or other details) to

Kairos Prison Ministry
Australia for its own use absolutely

Or

I give …. (specify dollar amount, life insurance policy number, share of estate, or other details) to be preserved as a capital sum generating annual income to

Kairos Prison Ministry
Australia

Again please note: We are not qualified, and will not, provide advice on the preparation of your Will, nor the bequest appropriateness within the bounds of your personal situation. You need to seek independent legal advice for all these areas and for completion of paperwork.