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Leaving a gift in your will

Leaving a gift in your will

Leaving a donation to UNSW in your will is a generous and powerful contribution to make. Your gift will fund much-needed research, new and improved facilities at the University, and scholarships for those who deserve our support.

For further information, please contact us today and we will be happy to answer your questions. Phone: + 61 478 492 032 or Email: scientiacircle@unsw.edu.au.

Types of gifts in wills

If you want to make a donation to UNSW in your will, there are three ways you can do it.

Specific Gifts 

You can name a specific gift, such as an amount of money, a property, stocks and shares, a work of art, or a life insurance policy.

Residual Gift 

You can leave instructions to gift to UNSW any amount remaining after all other taxes, debts, and gifts to family and friends have been made.   

Percentage of Your Estate 

You can give a certain percentage of the total value of your estate. The value of your gift will increase as the value of your estate increases.  

Areas to support

You can use your gift to support the initiatives that matter most to you. The funding you provide can be directed towards research projects, scholarships, or the development of new facilities.

 

How to leave a gift in your will

UNSW is not able to provide legal or financial advice. We encourage you to discuss the information below with your legal adviser.

Making your wishes known 

If you are leaving a gift to UNSW in your will, it is important that your wishes are clearly and accurately expressed.

Please refer to the suggested wording for gifts in will section below.

Using your gift to create an endowment fund at UNSW 

One way to leave a lasting legacy in support of the initiatives that matter most to you is with an endowment fund.

An endowment is a permanent, self-sustaining fund that is held in perpetuity by the University. A small amount is reinvested annually to ensure that the value of the endowment is maintained.

If you want your gift to be used as an endowment fund, you must be specific about this in your will. More information about how your endowment will be invested is contained in the UNSW Investment Policy.

Creating an endowment for a specific cause 

Some endowment funds are established to support specific scholarships and research projects. If you are interested in targeting a specific cause with your endowment, we can provide you with more information.

More information about how your endowment will be invested is contained in the UNSW Investment Policy.

Scientia Circle membership

All those who leave a gift to UNSW in their will are invited to join the Scientia Circle. Throughout the year, we keep Scientia Circle members informed about what’s happening on campus, and provide opportunities to meet with renowned researchers and outstanding students. The annual Scientia Circle luncheon is hosted by UNSW Chancellor, David Gonski AC.

Learn more about the Scientia Circle here.

Information for Legal Advisers

If you are a Legal Adviser, we can provide you with the information you need to include UNSW as a beneficiary of your client's Estate.

Deductible gift recipient status 

UNSW is a charitable institution and endorsed as a tax-exempt entity. The University is also endorsed as a deductible gift recipient. Gifts can be in the form of cash, or as non-cash gifts such as properties, artwork and shares.

Governance for philanthropic donations 

Investment Services, a department of the Division of Finance and Operations, oversees the UNSW Investment and Capital Management Program. Its investment responsibilities are governed by the UNSW Investment Policy.

Currently, the guiding principle for endowed funds is an annual disbursement rate of 5 percent on the opening balance. This rate of return protects the principal value of the capital in the fund.

Investment performance is monitored quarterly by the Investment Sub-Committee of the Finance Committee, which operates as part of the UNSW Council.

Setting up an endowment 

Some people use their will to establish an endowment fund. The principal value of the endowment fund will be managed by the University in perpetuity. The University's prudent investment strategies protect the principal, while generating disbursements to fund initiatives.

From time to time, the value of the principal may fall short of the value required to fund a scholarship or a research project. If this happens, the University will implement a beneficial fund in its place. This will allow new funds from the Estate to be fully expended over time, according to the requirements of the will.

Gifts as shares, property, and gifts in kind 

Gifts of assets including properties, artwork and shares, may have tax implications. If shares are sold by the Executor of the will, they may be liable for Capital Gains Tax.

UNSW recommends that people should seek financial advise as well as legal advice when leaving a gift to the University in their will.

Suggested wording for gifts in wills

General Purpose 

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to be used to support the University’s priorities including support of research at the University.’ 

Identified Purpose – Research 

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to be used for research in the field of [insert the general description of the area of research] (the ‘Purpose’). If at any time the University considers that it is no longer possible or practical to carry out the Purpose, the University may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’  

Identified Purpose – Scholarship 

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to be used to establish one or more scholarships for [insert the general description of the area to be supported] (the ‘Purpose’). If at any time the University considers that it is no longer possible or practical to carry out the Purpose, the University may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’  

Endowment Fund – Identified Purpose – Research 

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to establish an endowment fund to be known as “[insert name of fund]” for research in the field of [insert the general description of the area of research] (the ‘Purpose’). If at any time the University considers that it is no longer possible or practical to carry out the Purpose, the University may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’  

Endowment Fund – Identified Purpose – Scholarship 

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to establish an endowment fund to be known as “[insert name of fund]” one or more scholarships for [insert the general description of the area to be supported] (the ‘Purpose’). Each scholarship is to be called [insert name of scholarship]. If at any time the University considers that it is no longer possible or practical to carry out the Purpose, the University may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’  

For further information, please contact Janet Hall, Development Manager, Future Giving Phone: +61 478 492 032 Email: j.e.hall@unsw.edu.au

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