Bequest

Legacy is not always what is left tomorrow when we are gone. It is what we give, create, impact and contribute today while we are here, that can live on.

Gifts to Cranbrook have touched past, present and future Cranbrookians and their families, leaving a lasting impression and a gift of benefaction. A bequest is a gift specified in your Will to the Cranbrook Foundation that will contribute to the future of the School whilst still enjoying your assets during your lifetime.

Supporting students directly through Scholarships, improved facilities and educational opportunities by leaving a gift to Cranbrook in your Will, after you have taken care of your family and loved ones, will help strengthen Cranbrook and support young Cranbrookians. Your gift will support them in their endeavours to achieve success in whichever path they seek to follow in the future. Gifts can be made in a variety of ways to reflect your wishes and circumstances and may be gifts of defined personal assets (such as bonds, shares or property) a fixed sum or a percentage of your estate.

If you wish to have a discreet discussion about leaving a gift in your Will to Cranbrook Foundation, please contact Mr Cameron Torrance, our Director of Development, on +61 2 9327 9565 or foundation@cranbrook.nsw.edu.au

*1969 Rugby 1st XV team with teacher and coach Martin Pitt (OC 1957)*

“Being at Cranbrook changed my life. The School was so friendly, everyone helped me out and the facilities are great.”
Lachlan Bible (OC 2019) Matt Street Scholarship Recipient

OUR STRENGTH LIES IN OUR CONNECTIVITY WITH THE CRANBROOK COMMUNITY, THEIR UNWAVERING ENGAGEMENT AND SUPPORT STRENGTHENING OUR SPIRIT.”

We encourage you to discuss your ideas and plans for your bequest with the Cranbrook Foundation Office, especially if you prefer to tailor your gift to a particular purpose. Please contact us via +61 2 9327 9565. We recommend that you consult your qualified legal adviser before finalising arrangements to ensure that they are appropriate for your personal wishes and circumstances. By informing the School about your intended bequest, you assist the School’s long-term planning to support important future initiatives and additionally the School has the opportunity to thank you in your lifetime. All bequest correspondence with the Cranbrook Foundation Office is confidential.

Although general purpose bequests offer more flexibility for an undetermined future need, Cranbrook offers the following options:

General Purpose
In the provision of [specified faculty] tuition and programmes, and the provision of associated resources including, but not limited to, equipment and dedicated buildings
For the development of sporting facilities or to be applied towards sporting pursuits by students
The development, replacement or maintenance of the School buildings and grounds
Towards the provision of Martin Pitt scholarships to students
Towards the provision of Matt Street scholarships to students
Towards the provision of Indigenous scholarships to students
For the provision of scholarships to students, who would not in the opinion of Cranbrook Foundation representatives, be otherwise able to attend the School due to the financial circumstances of their parents or guardians

It is easy to make a bequest to the Cranbrook Foundation. You can either include the bequest when you write or update your Will, or simply add one as a simple codicil to your existing Will.

In either case, we recommend you seek professional advice from a qualified legal adviser to ensure your wishes are recorded in a legally binding manner.

It is also important to talk to your loved ones about your intentions and let them know that leaving a gift to the Cranbrook Foundation is important to you. This can help to ensure your final wishes are carried out.

We have included some suggested wording below for the consideration of your qualified legal adviser. A simple codicil form is also available to assist you and your qualified legal adviser.

Suggested bequest wording

I give and bequeath, free of all duties, taxes or deductions, to the Cranbrook Foundation ABN 74 001 481 107 presently of 5 Victoria Road, Bellevue Hill, NSW 2023 [insert description of gift – see below for examples] to be applied [select description of purpose – see below for examples]. I declare that the receipt of the Cranbrook School Headmaster or such proper officer of the Cranbrook Foundation will be a sufficient discharge to my executors who will not be bound to see to the application of this gift.

Examples of descriptions of gift

all of my residuary estate
____ per cent of my residuary estate
the sum of $____________
the sum of $____________, to be adjusted for inflation by applying the following formula: A=$____________ x B/C where A represents the adjusted amount payable to the Cranbrook Foundation, B represents the Consumer Price Index All Groups, Weighted Average of Eight Capital Cities (“CPI”) figure published quarterly by the Australian Bureau of Statistics as last published before the date of my death, and C represents the CPI figure last published before the date of my Will. If at the time of my death the CPI is no longer calculated and published on a quarterly basis, then I direct my executor(s) to adjust the amount of $____________ for inflation using such other statistical measure as is chosen by my executor(s) in their absolute discretion.
all my share and interest in the property situated at [property address]
all my shares in publicly listed companies
all my shares in [XYZ] Pty Limited
my artwork known as [title] by [artist]
[List asset or assets]

Examples of descriptions of purpose

for its general purposes
in the provision of [faculty eg. music, art, science] tuition and programmes and the provision of associated resources including, but not limited to, equipment and dedicated buildings
for the development of sporting facilities or to be applied towards sporting pursuits by students
the development, replacement or maintenance of the School buildings and grounds
towards the provision of the Martin Pitt Scholarship to students
towards the provision of the Matt Street Scholarship to students
towards the provision of the Indigenous Scholarship to students
for the provision of scholarships to students who would not in the opinion of the Cranbrook Foundation representatives be otherwise able to attend the School due to the financial circumstances of their parents or guardians.

If you already have a Will it is relatively straightforward to include a gift in your Will to the Cranbrook School Foundation. To do so, you may wish to complete the Codicil Form below. You will need to have your signature on the completed Codicil Form witnessed by two people at the same time and all three of you must use the same pen. The two witnesses should NOT be members of your family or related to you in any way. They also should not be persons mentioned in your Will, such as a beneficiary or executor. Once completed and signed, provide the original signed Codicil to the person who currently has your Will and ask them to retain it with your Will. If you have retained your Will, include the signed Codicil in the same envelope as your Will. We recommend you seek professional advice from a qualified legal adviser to ensure your wishes are recorded in a legally binding manner and that this Codicil Form is appropriate for your circumstances.

Download the codicil form here

They Chose to BE, rather than to SEEM

DOWNLOAD FOR MORE INFORMATION AND BEQUEST FAQS HERE
DOWNLOAD THE BEQUEST BROCHURE
DOWNLOAD THE CODICIL FORM HERE

Bequest

Leaving a Bequest to Cranbrook

What types of Bequests can I make?

How do I make a Bequest?

What if I already have a Will?

They Chose to BE, rather than to SEEM