Charity Receives Large Bequest Following Successful House Sale

An Australian charity has received an unexpected windfall as a result of a bequest from the estate of a generous benefactor, reports news.com.au. 

The Humpty Dumpty Foundation buys medical equipment for children’s hospitals across Australia, to help ensure that patients receive the best care possible.

The Foundation was left the bequest in the Will of Lorna Blackwood, who died in 2016 at the age of 92. In her Will she had specified that her house be sold after her death, and that the charity should receive the balance of any part of the sale price exceeding $2 million, minus costs.

Her home was in the highly desirable Sydney suburb of Double Bay and sold at auction for $4,462,000, which is apparently $1.4 million over the reserve price. It was eventually bought by the woman who owned the neighbouring property, who had reportedly given her agent a blank cheque to secure the purchase.

The executive director of the charity expressed his gratitude for the bequest, which will amount to over $2 million, and said he intends to meet with the executor of Ms Blackwood’s estate to discuss how the Foundation can best use the money in line with Ms Blackwood’s wishes.

Leaving a charitable bequest in your Will is an effective way of supporting a charitable cause close to your heart. However, expert legal advice is always recommended to ensure you are fully aware of how such a bequest might impact on the other beneficiaries of your estate. You should also always make your family aware that you intend to leave a gift to charity in your Will, so that there will be no surprises when the Will is read and also less risk of a challenge to your Will.

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