The New England Regional Art Museum is asking people around the region to support the art gallery and the region’s community by leaving a legacy through the new NERAM Bequest Program.
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An information seminar on Planning your Estate and Bequest will be held at the gallery on Thursday 14 June 2018 at 10.00am.
Local solicitors and accountants will help people plan ahead, and provide information about estate planning, and bequests in general, with further information about how to specifically make a bequest to NERAM.
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“Many of the great art museums of the world,” NERAM director Robert Heather said, “have been built around the foresight of people who made significant donations, bequests, or endowments to ensure the artworks, programs, and buildings that they love are looked after properly well into the future.”
NERAM itself, Mr Heather said, was founded around one of the most significant acts of philanthropy in Australian art history: Howard Hinton’s generous gift of more than 1000 artworks to the Armidale Teachers’ College.
“Acts like this create a lasting legacy, and are a tribute to the donor who gives them,” Mr Heather said.
Mr Heather invited community members to make a bequest to support the art museum after their deaths.
“The future sustainability of NERAM will depend upon the passion and commitment of those people who make a gift or bequest in their will,” he said.
“We believe that anyone can make a bequest that makes a lasting difference for NERAM and the wider community.”
Bequests can include donations of funds, artworks, property, assets, or shares, and can be made through wills, estates, and deeds of gift.
NERAM’s new Bequest Program will be launched at the Information Seminar. It provides advice about how to make a gift in a will or a bequest to the Art Museum.
Tax expert Paul Williams from NERAM sponsor Roberts & Morrow Chartered Accountants will talk about tax issues involved in planning your estate.
“The taxation implications of gifts of this nature are complicated and often overlooked,” Mr Williams said.
“Understanding the taxation consequences of the various options can assist donors in maximizing the effectiveness of the gift for themselves and the beneficiaries of their estate.”
Solicitor Chris Serow, principal at NERAM sponsor Legal Minds law firm in Armidale, will discuss legal problems that can befall those who don’t plan properly.
“Many people aren’t aware of some of the legal pitfalls that have the potential to make it difficult for their wishes to be met,” Mr Serow said.
“These can include challenges to the will, incorrect wording and other issues which can be addressed through proper planning and communication with all parties.
“One of the key issues for anyone thinking about making a bequest is make sure that they talk to the proposed recipient and everyone else involved as early as possible to ensure that their wishes are fully realised,.
“That includes the team here at NERAM who want to make this potentially difficult conversation as easy as possible for all concerned.”
NERAM’s Bequest Program includes information about how to make a gift in your will to the art museum through the NERAM Foundation, issues to be addressed, and how to join the Howard Hinton Circle of supporters.
Further information about the NERAM Bequest Program is available on the website at http://www.neram.com.au/support/bequest/
