From a not-for-profit organisation perspective, it is considered preferable to receive a bequest from a deceased estate for ‘general purposes’. If a bequest is instead received for a specifically defined purpose and an organisation can’t carry out that specific purpose as directed by the will, they risk losing the bequest altogether. A bequest for ‘general purposes’ allows an organisation to apply the bequest in any way it sees fit. A recent case from New South Wales (Leslie Morgan) illustrates this issue.
To read further details on the case, in an article by Lynch Meyer, click here.