Bequests
Bravely, Faithfully, Happily
Making a difference beyond your lifetime
Remembering Strathcona in your will is simple and helps honour what Strathcona means to you, your family and your loved ones. You can include a bequest (gift) to Strathcona when writing your will or by making a codicil (a legal provision) to your existing will. In the case of a codicil, your legal advisor can add this amendment to your will.
A gift in a will plays a significant role in the development of Strathcona and may be a share of an estate, cash, items of personal property or real estate.
What kind of gift can you leave Strathcona?
There are a number of ways you can structure the gift in your will to Strathcona, ensuring that, first and foremost, your loved ones have been looked after and other expenses accounted for.
Specific gift
A specific gift is a testamentary gift of a specified sum of money or a specific asset or assets (e.g. real estate, shares or valuable chattels, such as works of art or jewellery). It is important to note that, if you gift a specific asset or assets, and you thereafter dispose of them, the gift to Strathcona will fail (i.e. Strathcona will not receive an equivalent sum of money), unless you amend your Will.
Residual Gift
A gift of all or part of your residuary estate is a gift of all or part of what is left of your estate after all of your specific gifts are made, all of your debts, funeral and testamentary expenses are paid and any duties, taxes and fees payable on your estate and on the transfer of your assets to any beneficiary are satisfied.
Gift Areas
Bequests to Strathcona are received as gifts to the Scholarship and Bursaries Fund, the Building Fund, the Library Fund, specific educational programs (eg Music, Science, Sport) or to the School to direct to an area of greatest impact.
Bequests can be ‘’tied’’ to benefit a specific program such as an academic discipline, building project or scholarship, or ‘’untied’’, where it would benefit the school in the current area of greatest need.
If you are considering leaving a gift to Strathcona in your Will, please see some following suggestions on how this could be best worded.
Putting a Lasting Legacy into Words
If you would like to remember Strathcona in your will, we suggest you discuss this with your legal advisor and tell your loved ones. To make a bequest to Strathcona, we suggest you choose one of the following two wording options:
Untied Bequest: An effective way to play a part in the Strathcona of the future. Your gift will be distributed to the area identified as having the greatest impact at the time it is received:
“I give to STRATHCONA BAPTIST GIRLS GRAMMAR SCHOOL LIMITED ABN 75 073 413 626 of 34 Scott Street, Canterbury, Victoria, 3126, [the sum of $[insert amount] OR my [insert asset] OR all of my residuary estate OR [insert percentage]% of my residuary estate], for its general purposes in order that Strathcona may continue to operate as a nurturing learning community that develops intellectually curious, optimistic, life-ready young women, and I direct that the receipt in writing of an authorised officer of Strathcona Girls’ Grammar School shall be deemed proof of payment”.
Tied Bequest: If you would like to make a specific gift of an asset or assets, as opposed to a sum of money or part or all of your residuary estate, then directing your bequest to one of Strathcona’s deductible gift recipient (DGR) funds may result in a better taxation outcome for your estate. We recommend that you seek independent legal advice in this regard, but offer the following suggested clause by which you may direct your bequest to one of Strathcona’s DGR funds:
“I give to STRATHCONA BAPTIST GIRLS GRAMMAR SCHOOL LIMITED ABN 75 073 413 626 of 34 Scott Street, Canterbury, Victoria, 3126, [the sum of $[insert amount] OR my [insert asset] OR all of my residuary estate OR [insert percentage]% of my residuary estate], for [the purposes of the Strathcona Baptist Girls Grammar School Scholarship – Bursary & Gift Fund OR the purposes of the Strathcona Baptist Girls Grammar School Limited Building and Maintenance Fund OR the purposes of the Strathcona Baptist Girls Grammar School Library Fund], and I direct that the receipt in writing of an authorised officer of Strathcona Girls’ Grammar School shall be deemed proof of payment”.
If you have or intend to remember(ed) Strathcona in your will, please tell us! By informing Strathcona about your bequest and for what purpose the gift is intended, you assist the School’s long-term planning. Importantly though, this also gives us the opportunity to thank you in your lifetime and gives you the opportunity to engage with other likeminded individuals as a lifetime member of The Strathconian Society.
All bequest correspondence with the School is confidential. For more information on bequests, or for a confidential discussion on how you could make the greatest impact to the lives of Strathcona girls, please contact Strathcona Development Manager, Eliza Goding by email or by phone (03) 8779 7500.
