In this article, we’ll debunk five of the most common myths about leaving a gift in your will, drawing on Rebecca's expertise to provide you with the clarity you need to make an informed decision about your legacy.
Leaving a gift in your will can be one of the most impactful ways to support causes you care about, but many people still hold onto common myths that may prevent them from considering it.
To help clear up the confusion, we sat down with Rebecca Tetlow, a Tearfund supporter and partner at Tetlow Legal in Canberra who leads the firm’s Wills and Estates team.
This is one of the biggest myths! You don’t need to be wealthy to leave a meaningful gift in your will. Charitable gifts don’t need to be large amounts; even a small contribution can have a significant impact. The key is to give what feels comfortable for you.
And don’t forget—most charities rely on gifts from everyday people, and a small amount can go a long way. It’s not about how much you leave, but the difference it can make.
Fun fact: The most common Gift in Will that Tearfund receives is $10,000.
As Rebecca Tetlow points out, "If you’re leaving a gift to a charity, a small percentage of your estate can make a huge difference, especially when you consider the value of assets like your home. A 1% gift won’t (materially) negatively affect what you leave to family members but will have a significant impact on a charity. The beauty of a percentage gift is that it grows with your estate”
It’s easier than you think! Including a gift to a charity when making your will is a simple process. You can choose to leave a fixed amount or a percentage of your estate.
Both options are straightforward, and it’s just a small addition when making your will. Your legal advisor can help you consider the type of gift including whether other family giving vehicles like foundations or trusts are appropriate for you.
If you’re unsure about how to include the wording, most charities have templates or guidelines to make the process easy including Tearfund’s website. As Rebecca notes, "Once you’ve included a gift in your Will, the key step is then ensuring your will is legally valid (i.e.appropriately signed and witnessed)."
It’s understandable to want to ensure your gift is used appropriately. Tearfund is committed to being transparent and flexible with how donations are allocated and provides annual Impact reports and Financial Statements. Most gifts are used for general purposes, funding projects where the need is greatest, which allows us to respond flexibly to needs as they arise.
If you have a specific cause or project in mind, many charities will do their best to accommodate your wishes. However, maintaining flexibility is essential to meet evolving needs. That’s why we recommend making your gift broad to ensure it continues to support our work effectively.
Rebecca explains, "While it’s fine to specify your intentions, it’s important to understand that most charities will apply your gift toward their general purposes. However, they may consider your preferences if you include a non-binding ‘expression of wishes’. This gives them the flexibility to adapt if the charity’s needs change over time."
Having a will in place early allows you to leave a legacy that reflects your heart and vision, even if you don’t have dependants. As Rebecca reminds us, many young people "are worth more than they realise" because of superannuation and life insurance.
Many people worry that their family might object to a charitable gift in their will, especially if it reduces the inheritance they receive. It’s important that you look after family members who are dependent on you for their needs.
However, if your beneficiaries are already established, then wealth sharing even by a small percentage can have a significant impact for charities. Wealth sharing can transform the global community and benefit Australian society including those descendants who see only a marginal reduction in their share of this growing pool of intergenerational wealth transfer.
It's important to remember that your will reflects your wishes. If you’re concerned about this, it may help to have open conversations with your family about your decision. After all, many families support charitable giving, and your gift could even inspire others to do the same.
Leaving a gift in your will is more than just a financial decision; it’s a way to leave a lasting legacy that reflects your heart for justice.
Whether it’s a small percentage or a larger sum, your gift can help create change that lasts for generations. The process is simple, and it’s a decision that anyone, regardless of age or wealth, can make to ensure their legacy endures.
At Tearfund Australia, we’re passionate about people living justly in every area of their lives.
If you’d like us to pray with you about these decisions, or to talk about how we’ve worked with supporters to invest in God’s Kingdom, we'd love to have that conversation. Please get in touch with our Relationship Development Manager.
1800 244 986
[email protected]