What has been important in your life?
A Bequest is a legacy gift in its most selfless form. Donors of the Children’s Hospital Trust are people who believe in the profound importance of the future of our country’s children. This is what has been important to donors like Ashley and Loma Lattimer. After attending the Circle of Life Heritage Tea at Vergelegen Estate in 2014, they felt drawn to the cause the Trust embodies: making quality healthcare accessible to all children.
We asked them why being donors is so meaningful to them. “We want to assist an organisation like the Children’s Hospital Trust to help children who require medical attention and otherwise couldn’t afford specialised care.”
Ashley and Loma are inspired to donate knowing what hard work means. “We have worked hard to reach the point where we can now afford to give something back and thereby help others to have a better life. We also started with nothing, 58 years ago when we got married.” They understand the challenges the Trust faces such as retaining medical professionals and working tirelessly to maintain the “donation-flow income”.
The Lattimers are good people who don’t need thanks. “Just the acknowledgement that we have helped,” is more than enough for them. But there’s no doubt that many hearts are overflowing with gratitude for the part they have played in aiding the Hospital to care for our future voices and leaders.
What is even more remarkable is that they have ensured their gift becomes a legacy by leaving a Bequest in their Will to the Children’s Hospital Trust to ensure future generations of sick and injured children have a second chance in life to become future leaders.
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Living a life of purpose
“How we experience life, and what we believe is important, varies depending on the individual. I often mention how privileged I am to work with children and adults who inspire me every day. The adults are committed to making a change in the lives of children and their families; without them many children would not have a future and families could lose a child. Many of the children I have met have taught me the value of courage, love and resilience.” – Chantel Cooper
Liam is 12 years old and was born with brittle bones disease. This courageous young boy uses a wheelchair and is a regular patient at the Red Cross War Memorial Children’s Hospital. He has not let his illness deter him from living life and reaching for his dreams. He does have moments when he asks why the illness has chosen him, but his resilience and the close relationships with his family and friends give him the support he needs. I believe that Liam will live a life with purpose that touches the lives of those he meets.
As I reflect on the question on what has been important to me in life, I am grateful that I have been given the opportunity to live my life with purpose. My intention has always been to help make the world a better place, particularly for those who are most vulnerable. Through my work with children and other vulnerable people in our society, I have seen firsthand the difference that we can make when we come together to create positive change.
We need you, and together we can continue to work towards creating a better life for children, now and into the future.
Chantel Cooper, CEO
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In terms of leaving a bequest to the Trust, we would suggest wording along the lines of ‘I hereby leave/bequeath R______ (or a specific item/asset/share etc.) to The Children’s Hospital Trust, PBO No. 930 004 493, to be used at their discretion’ (unless you would like it to be allocated to a specific area).
Please note that we recommend consulting an attorney when amending your will – the above is merely a suggestion and not legal advice. As long as you state the Children’s Hospital Trust as the beneficiary and our PBO number, there shouldn’t be any issue.
Thank you very much for informing us about your intention to leave a bequest to The Children’s Hospital Trust in your estate plan. We are very grateful to you for your generosity. The Trust’s future depends upon the continued generosity of friends such as you.
The value of any bequest you make to the Children’s Hospital Trust as a registered Public Benefit Organisation will be deductible for calculating the Estate Duty payable on your estate. This means that a bequest to a charity may decrease the amount of Estate Duty payable on your death – or even help to entirely exclude your estate from being liable for the payment of this tax. Please remember to include our PBO number, 930 004 493.
Myths about leaving a Legacy Gift
• You need to be wealthy for it to be worthwhile
Most of us don’t consider ourselves wealthy enough to have an estate to plan. But we have assets, such as cars, homes, savings, retirement accounts, and life insurance, from which we can designate a small percentage to our favourite charities.
• It’s not worth leaving a small donation
Some people may have reservations about including a small gift to a charity in their Will because they think that gifting a smaller sum is not worthwhile, and the gift may get eaten up in administration costs. When you leave a bequest to the Trust, 100% of your legacy gift goes towards funding projects that change children’s lives.
• Gifts get taxed
Bequests to charitable institutions are also exempt from tax and may lead to savings in the estate duty payable. Under current South African legislation, if the estate you leave behind is less than the nil-rate band, which varies each tax year, your beneficiaries will not have to pay Estate Duty. However, if your estate is worth more than this threshold, they must pay tax on anything beyond the nil-rate band.
• Writing wills and leaving a gift to a charity is too complex and time-consuming
A simple meeting with your lawyer, life insurance representative, or retirement plan administrator is all you need to leave your legacy. Although you can draft your own Will, we strongly recommend that you use the services of a legal professional. Mistakes in writing or witnessing a Will can invalidate the document. A simple Will costs a little.
• My family knows what I want, so I don’t need a Will
Your family might know what you want, but they won’t get to make any decisions for you if you don’t write them down in a Will. Instead, a court will make those decisions based on local laws. The court process can be long and cost your loved ones a lot of money from your estate.
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