Leaving a bequest in their Wills towards the future of the Waikato is an important priority for a couple looking to give back to the region they love to call home.
The donors, who have asked not to be named, were keen to explain why they chose Momentum Waikato, the region’s Community Foundation, to realise their aspirations.
Why have you made bequests in your Wills to Momentum Waikato’s regional endowment fund?
“We are a committed and loyal Waikato family who have spent our lives enjoying what our region has to offer.
“Momentum Waikato provides us with a ‘voice’ in the realisation of community projects and a way of making our modest dollars join together with others to deliver a collective impact.
“We see our local Community Foundation as the ideal vehicle for supporting developments that celebrate our region's unique identity and add to the infrastructure that enhances life here.
“The bequest in our Wills is a simple way of locking in our intent today. At our ages - early 50s - we decided that committing now was an obvious thing to do. Why not?!
“It makes us part of the Momentum Waikato family and gives us a vested interest in what is happening in the region. We aim to support the endowment with cash contributions in the future, if our financial position allows that, but for now the Will bequest gets us started.
“We feel absolutely enthused to be part of something that's larger than us, that will last beyond our time here, delivering joy to future generations.”
What do you hope to achieve through this gift?
“We hope to contribute to our region’s future into perpetuity, so there are no particular conditions or targets for our bequest, we’ve simply committed to the general regional endowment fund.
“We feel Momentum Waikato is best placed to leverage the funds to meet the greatest local priorities. Backing them to get on and make things happen, driving the vibrancy of the region, with minimal fuss, was a priority for us.
“The collective effect of bequests and gifts from like-minded local people will, over time, really enhance the Waikato by creating meaningful things we can all identify with, that make us feel proud or inspired, that showcase or celebrate our region's uniqueness.”
How significant is your Bequest to Momentum Waikato within your Will?
“My wife and I have jointly agreed that, via our Wills, 25% of our net worth will be gifted to Momentum Waikato and placed in a Fund under our names. That will be a general fund where the corpus is invested and the proceeds then applied to change-making projects in the region at the time, as determined by the Board of Momentum Waikato.
Why should people in the Waikato make bequests to Momentum Waikato?
“We asked ourselves the question - what happens when we're gone?
“We're at the age where our parents’ generation is dwindling, which has given us cause to reflect. Their generation was very community minded and they raised us with a similar set of values. We feel this bequest allows us to continue that legacy by contributing to things future generations will benefit from.
“The concept of placing part of our estate into a perpetual fund that keeps working and giving to the community, long after we're gone, was therefore attractive. We seek to contribute to our community while we're alive, why not when we're dead?!
“We now understand Momentum Waikato is set up to professionally manage funds and applies the proceeds as per its donors’ wishes. We like the fact that by aggregating peoples’ bequests and gifts, they can access much better investment opportunities and have a diverse portfolio which spreads risk.
“Those things combined protect our core bequest and improve its yield, meaning our gifting, our name, our hard-earned money, continues and survives into the future.”
What advice would you offer to people wanting to make a bequest to Momentum Waikato?
“Get started! It is very simple to take the first step and become one of the many people around the country committing bequests to their local Community Foundation’s endowment fund.
“Once we decided to commit, we wrote our own Memorandum of Wishes, sent it to our Lawyer for inclusion in our Will, plus a copy to Momentum Waikato, and we were underway. It was simple and inexpensive.”