Bequests (Australian Museum Foundation)
There are several ways in which you can make a bequest to the Australian Museum Foundation.
A bequest is an extremely beneficial way of supporting the Australian Museum’s goals, inspiring and educating future generations in the natural sciences.
Types of bequests
Your bequest will be very gratefully appreciated. It could take any of the following forms:
- Residual; part of or all of your Estate after you have specified gifts for family or friends. This means your bequest will keep its value regardless of inflation, and that the gift you wish to make today is worth as much as when it is received by the Museum
- A percentage of your total estate
- Specified as including assets such as shares, bonds or property (for information about CGT and transfer of bequeathed assets, see the following link to the ATO website)
- A specified sum of money for the Museum
The Australian Museum Foundation can also be named as a beneficiary in a life insurance or superannuation policy.
You may choose to designate your bequest for the general purpose of the Australian Museum, and funds will be allocated to priorities of the Museum at the time. We do recommend that you seek independent legal advice when making or updating your Will. However, the clause for a simple gift in a Will could be:
"I give to the Australian Museum Foundation (ABN 64 497 967 210) ______* for the use and benefit of the Australian Museum at its absolute discretion** free from all taxes and duties payable in respect of my death, my estate or the administration of my estate and I direct that the receipt of the Director, President or other authorised officer for the time shall be an absolute discharge to my trustee(s) for the gift."
Bequest stories and ambassadors
- Story of a bequest: Clarence E Chadwick
- Story of a Bequest: Gwendoline West
- Bequest Ambassador: Journalist Robyn Williams
- Bequest Ambassador: Journalist Lynne Cairncross
Questions or comments?
We'd love to help you. Please call:
Executive Officer to the Director
02 9320 6456
send an email.
Notes for consideration
* Details of the gift (for example, "the sum of ______.____ dollars" or "the residue of my estate") should be inserted in the space in the clause.
** If the gift is to be for a specific purpose, please discuss the details with us. These details should then be included in the clause and substituted for "the use and benefit of the Australian Museum at its absolute discretion".
The words making the gift "free from all taxes and duties payable in respect of my death, my estate, or the administration of my estate" should be considered with regard to prevailing tax and death duty laws. This provision may need to be amended or deleted as appropriate.
The person or persons whom the word "trustee(s)" covers may be referred to elsewhere in the Will as "executor(s)". In this case the relevant word should be included in the clause.
The suggested wording and notes above are to help you include the most appropriate clause in your Will. If you or your solicitor require further assistance, please do not hesitate to contact Kate Richardson, Executive Officer to the Director, 02 9320 6456, send an email. All enquiries are strictly confidential.
The Australian Museum Foundation is endorsed by the Australian Taxation Office as an income tax exempt charitable entity and a deductible gift recipient. The Australian Museum is the Foundation’s sole legal beneficiary.