Gifting your estate to charity | Don’t forget your furry family!
Gifting your estate to charity | Don’t forget your furry family!
What is a bequest?
A bequest is a transfer of property from one person to another through a will. In Queensland, making a bequest is a simple process that can be done with the help of a lawyer.
How to bequest your estate in Queensland:
· Make a will: A will is a legal document that outlines how you want your assets to be distributed after your death. It's important to make a will if you want to ensure that your property goes to the people you choose and without the possible involvement of the courts;
· Decide who will receive your property: You can bequest your property to anyone you choose, including charities and organisations. It's important to consider the needs and circumstances of each beneficiary when making your decision;
· Choose an executor: An executor is the person responsible for managing the distribution of your property after your death. You can choose any adult you trust to be your executor, but it's common to choose a family member or close friend; and
· Draft your will: Engaging a lawyer to ensure that your will meets the legal requirements in Queensland is essential, particularly if you are gifting to charity. Should you experience a significant life change, such as getting married, having children, or separating from your partner, it's important to update your will to reflect these changes.
What about your furry family, can you bequest your family pet?
In Queensland, pets are considered personal property, so they cannot inherit property or money directly. However, with a well-crafted will, you can ensure that your pet is taken care of after your death.
How to bequest your pet in Queensland:
· Choose a caregiver: The first step in bequeathing your pet is to choose a caregiver who will take care of your pet after your death. It's important to choose someone who loves and cares for your pet and has the ability to provide a stable home for them;
· Make a provision in your will: You can include a provision in your will to ensure that your pet is taken care of after your death. This can include a specific request for the pet's care, such as food, medical expenses, and daily care;
· Provide funds for pet care: If you have enough assets, you may choose to include funds in your will to cover the costs of your pet's care. This can include a trust for your pet or a gift of money to the person who will take care of them;
· Choose a backup caregiver: In case your primary caregiver is unable to care for your pet, it's important to choose a backup caregiver who can take over. This could be a family member, friend, or an organisation that specialises in pet care; and
· Update your will regularly: If your chosen caregiver or circumstances change, it's important to update your will to reflect these changes. This will ensure that your pet will be taken care of according to your wishes.
Consider pet protection organisations such as RSPCA
If you don't have a friend or family member who can take care of your pet, you can consider leaving your pet to a pet protection organisation in your will. These organisations specialise in finding new homes for pets in need and can provide the necessary care and support for your pet after your death.
Recently, a Gold Coast beach house sold under the hammer with the proceeds given entirely to the RSPCA, her bequest worth $2.7 million dollars. The RSPCA is the country’s peak animal welfare organisation. With a mission to prevent cruelty to animals by actively promoting their care and protection, the RSPCA is a not-for-profit charity.
To find out more, visit the RSPCA dedicated page on gifts in wills. https://www.rspca.org.au/support-us/gifts-in-wills
It's important to seek professional advice if you have any questions or concerns about bequeathing your pet in Queensland. This will ensure that your pet's future is protected and that your wishes are carried out according to the law.
Author Kate Flett
Salerno Law
Salerno Law team of estate lawyers provide clear and timely advice and services on all areas of Wills and Estates law Australia-wide. Given that the legislative requirements for the construction and content of Wills, their execution, probate and administration and more changes from jurisdiction to jurisdiction, it is highly beneficial to engage legal professionals who are well-versed in these rules and regulations across all areas of Australia.
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