Leaving a gift to RMIT in your Will is a beautiful way to celebrate your commitment to education and invest in future generations.
A gift in your Will – also known as a bequest – is an opportunity to leave a legacy that will benefit students and society long into the future. Any gift, of whatever size, makes a difference. You can decide to direct your gift to a particular area that resonates with your personal values and interests. Perhaps you have a passion for a specific area of study or wish to invest in solving a particular problem through research.
You can also choose to make a general-purpose gift, which will be used to address the greatest need for RMIT and its students.
This may include:
- equity and access scholarships to make study at RMIT possible for students regardless of their financial circumstances
- enhancements to teaching and learning programs, and facilities, that inspire students to succeed
- research that is tackling real-world problems and creating a better world for us all.
Whatever you choose to support, we will make sure that your gift has the greatest possible impact.
How to leave a gift in your Will
Creating a Will needn’t be complex. If your affairs are relatively straightforward, you may be able to prepare your Will online using RMIT’s trusted partner, Gathered Here. It’s free and should only take 10 minutes.
If your financial circumstances are more complex, we recommend that you prepare your Will with the assistance of an independent legal advisor to ensure your wishes are properly reflected.
We are also happy to discuss putting in place an Intention to Bequest, in which you can set out more details about the spirit and intent of your gift.
Gifting a portion of your estate (residuary bequest)
- I give[insert percent]% of my residuary estate to the Royal Melbourne Institute of Technology (ABN 49 781 030 034) (“RMIT”) for its general purposes.
Gifting a specific amount
- I give $[insert dollar amount] to the Royal Melbourne Institute of Technology (ABN 49 781 030 034) (“RMIT”) for its general purposes.
- If you are giving a specific dollar amount, we ask that you consider including words to manage inflation and to ensure a consistent value for the gift, as follows:
- Inflation
- The amount given to RMIT is to be adjusted for inflation by applying the following formula: N = (S x B) / A; where:
- N is the adjusted amount payable to RMIT;
- S is the amount of the RMIT Bequest;
- B is the Consumer Price Index All Groups, Weighted Average of Eight Capital Cities (“CPI”) figure published quarterly by the Australian Bureau of Statistics immediately before the date of my death; and
- A is the CPI quarterly figure published immediately before the date of this my will.
- If at the time of my death the CPI is no longer calculated and published on a quarterly basis, then I direct my executors to adjust the bequest for inflation using such other statistic or measure as is chosen by my executors in their absolute discretion.
If there is a particular purpose you wish your bequest to be used for, you can describe it; however we recommend you also use the following words, so that we can still pursue your intended purpose generally, in case circumstances change and we can no longer apply the funds as you have specifically set out:
Research
- I give [insert % of my residuary estate / $ dollar amount] to the Royal Melbourne Institute of Technology (ABN 49 781 030 034) (“RMIT”), without creating a binding trust, for the purpose of [research into the field of [e.g.cancer, engineering, social work, etc] / establishing one or more scholarships and/or bursaries for [insert general field of study / recipient cohort, such as students from a first or second generation refugee family], or otherwise such as RMIT determines to be within the spirit of that purpose, if RMIT considers that purpose cannot reasonably be fulfilled.
Scholarships
- I give [insert % of my residuary estate / $ dollar amount] to the Royal Melbourne Institute of Technology (ABN 49 781 030 034) (“RMIT”), without creating a binding trust, for the purpose of establishing one or more scholarships for [insert general field of study / recipient cohort, such as students from a first or second generation refugee family], [to be called [the name] scholarship], or otherwise such as RMIT determines to be within the spirit of that purpose, if RMIT considers that purpose cannot reasonably be fulfilled.
If you let us know that you have included a gift to RMIT in your Will, we will invite you to join the Ormond Society – a group of visionary donors who believe in the transformative power of education. It’s our way of recognising your passion and commitment, and thanking you for your generosity.
Contact us
Leaving a gift to RMIT in your Will is a beautiful way of ensuring that the causes you believe in are supported beyond your lifetime.
If you have included RMIT in your Will, or are considering doing so, please contact us.
