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“The Salvation Army now have a working in relationship with BDO. BDO is the fifth largest auditing company in the world and a registered financial services provider. Their services include the administration of deceased estates, estate planning and financial planning. They are able to provide advice if you are contemplating any form of legacy donations in terms of your Will.
Should you wish to make use of any of their services please contact us at The Salvation Army.”
Carin A. Holmes
Territorial Public Relations Secretary
Contact the Legacies and Bequests Department:
Tel: (011) 718 6746
Frequently Asked Questions
What is a bequest?
A bequest is an instruction in your written will that states how to distribute some or all of your estate.
How do I make a bequest?
There are four types of bequests: specific, percentage, residential and contingent.
- A specific bequest is a gift of a particular asset (e.g., 100 shares of XYZ Corporation).
- A percentage bequest is a gift of some part of the value of the distributed estate (e.g., 20% of my net estate).
- A residential bequest is a gift of the remainder of the estate after all taxes, expenses and other bequests have been satisfied.
- A contingent bequest is a gift that will be made to a second beneficiary in an event that the original beneficiary is deceased or does not accept the gift.
The type of language that you choose should fit what you want to accomplish. You should think carefully about how your gift can help the person or organization when deciding what bequests to include.
Who will carry out my bequest?
In your will, you choose an executor as the person entrusted with the responsibility of carrying out your wishes. The executor has to account for the entire estate (including debts and liabilities) and distribute money and property according to the law and your instructions.
Why should I make a bequest?
If you do not leave a will and so not make a bequest, you cannot be sure that your property will be distributed as you intend. Without a will, your property will be distributed by a pre-set formula according to the state intestacy laws, and it is possible that family members, close friends, and worthwhile charities will receive no part of your estate. Making a will is the only way to be sure that the people and causes you care for will receive your generous gifts.