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Making a Bequest

MAKING A BEQUEST TO OUR LADY HELP OF CHRISTIANS PARISH

Information for persons making bequests in wills and their legal advisors

At a time when you are considering your Will, we hope that the following information will prove helpful if you wish to bequest an amount to the Church. There are circumstances where parishioners are unable to assist the Parish financially during their lifetime but would wish their Will to contain provisions to assist the future Spiritual works of the Parish in a beneficial way. The gratitude of future parishioners would indeed be assured. If you require further assistance with your enquiry, please do not hesitate to contact the Parish Priest or the Parish Secretary.

The Will

A will is a unique, personal and highly individual document providing directions as to the bequest of assets and how those assets are to be distributed. The creation of a distribution plan which lists all assets in detail and an estimated value for each asset might be a useful starting point. Preliminary determinations can then be made on the allocation of assets to spouse, children, other relatives, and friends as well as to Our Lady Help of Christians Catholic Parish and other charitable organisations.

Power of Attorney

Power of Attorney is the control given to a person or organization by an individual in which that person or organisation has the legal appointment to make decisions, sign documents and generally act on behalf of the individual. There are available several kinds of Power of Attorney. The use of suitable powers can provide responsible management of all affairs and assets in times of illness, injury, mental incapacity or even an extended holiday. The consultation of a solicitor for advice in establishing Power of Attorney is highly recommended.

The Parish Finance Council

The Parish Finance Council is the Parish body which, amongst its other functions, can provide information and advice for prospective benefactors and their legal advisors.

Types of Bequests

The Parish welcomes bequests in Wills and these may be in the form of real estate or in personal possessions and resources including money, shares, bonds, artworks, assignments of life policies and other assets.

Designating the Purpose of a Bequest

Unrestricted: The unrestricted bequest is the most useful as it affords discretion to the Parish to allocate funds to the areas of most need.

Directed: An alternative is that the bequest may be directed to support a specific area of interest. Options that may be considered are building or maintenance requirements or the underwriting of teaching or mission activities within the Parish’s area. Intentions may also be to support a particular group within the Parish, provide scholarships or specific equipment and a myriad of other matters. If a special purpose bequest is provided to the Parish, it is important that the bequest is described in as great a detail as possible and that a clause is included which would allow for different uses under altered conditions in the future.

Endowed: An Endowment Fund may be established so that a bequest may be paid to the Parish in perpetuity, with the capital protected and the interest allocated for specific needs within the Parish.

The policy of the Parish is that no levy will be charged against the trusts it manages – total benefit is given to the purpose for which the trust has been established.

Bequest Clauses

Clauses for bequests to Our Lady Help of Christians Parish are suggested as follows:

Unrestricted: “I give (my estate) or (a specified portion/the residue of my estate) or (the sum of $……..) to the Corporation of the Trustees of the Roman Catholic Archdiocese of Brisbane for the use and benefit of the Religious, Charitable and/or Educational purposes of Our Lady Help of Christians Parish situated at Hendra, suburb in the State of Queensland. I declare that the receipt of the Parish Priest shall be sufficient discharge to my trustees”.

Specific Purpose: Similar wording as above is suggested, with the inclusion of an additional clause after the word Queensland. “I express the wish but without creating any binding trust that if practicable this gift be applied towards……..”

The Parish Finance Council has directed that the wishes expressed by the benefactor must be kept to as closely as possible in the use of specific purpose gifts of this kind. It is recognised, however, that in a small number of cases, donors may be firmly committed to a particular cause so that they wish to exclusively direct their bequest for that specific purpose. The following is suggested for them:

Directed Purpose: Similar wording as above is suggested however the directed purpose should be stated as broadly as possible.

Recognition

Recognition of bequests to the Parish is considered dependant on preference and level of donation.

Gift Information

For additional information or assistance on the various methods of including Our Lady Help of Christians Parish in a Will or for guidance in planning any type of gift, please contact –

The Parish Priest
Our Lady Help of Christians Parish
9 Bowman Street
Hendra QLD – 4011

Telephone: 07 3268 3040
Email: hendra@bne.catholic.net.au