If considering leaving a gift to ASA, an important consideration is whether your gift to ASA will be a specific bequest or a residuary bequest.
A specific bequest is a gift in your Will of a specified amount of money or a particular item of value. Those items could include property, shares or works of art (of Gallery standard). Given that ASA exists to stand up for and educate retail shareholders, a gift of shares may feel the most appropriate.
A residuary bequest to ASA is a gift of the whole or a portion of whatever is left in your estate after all other gifts, taxes and costs have been paid or fulfilled.
Suggested wording: It is important that the wording for bequest in your Will to ASA clearly expresses your wishes. ASA is not in a position to provide legal or financial advice; however, below is some suggested wording for discussion with your legal adviser.
‘I give to the Australian Shareholders’ Association (ABN 40 000 625 629) (ASA) [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.’