FREQUENTLY ASKED QUESTIONS
My bequest is not likely to be large ; is it worthwhile to give ?
Yes , it is absolutely worthwhile . Over time , and with sound management to retain and grow the capital , funds invested distribute many times their initial capital value to assist the School and Scotch boys . Even modest gifts can have a substantial impact in assisting boys with financial need . It is your commitment to securing our future that counts .
I would love to give a scholarship now and see it benefiting students in my lifetime , but will only have sufficient funds for the capital required through my Will – are there any options ?
Yes , some donors would love to start a scholarship program in their lifetime and can do so by committing to fund the fees on an annual basis , and then provide the capital sum for a perpetual scholarship via a gift in their Will .
Is there a minimum bequest for establishing a perpetual scholarship ?
Yes , in general the minimum donation required to establish a named Academic / Music / Boarding / Indigenous Scholarship in perpetuity is $ 800,000 .
Smaller amounts are welcome and can be directed to the Scotch College Foundation Scholarship Fund .
I am not sure whether to leave a specific amount or a percentage of my Will .
Given the significant change in the value of money over time , and to save you revising your Will regularly , a gift as a percentage of your Will maintains the real value of what you intend to give to Scotch and to other beneficiaries .
I am thinking about leaving my bequest with a separate external entity to manage and distribute annual amounts – would this save Scotch some work and hassle ?
The Foundation has the benefit of expert advice to carefully and conservatively manage all of its endowed funds , to maximise their return on a long-term basis . An important part of the Foundation ’ s role is to provide advice and oversight on funds which have been entrusted to Scotch , and ensure they are used as the donor intended .
The board also has the benefit of external expert advice . This is performed without cost to the Foundation ’ s endowed funds . Commercial entities often charge significant fees for their services , which reduces the impact of your gift .
We recommend that you seek independent financial and legal advice when writing your Will or adding a Codicil to your Will .
THE FUTURE SUCCESS OF SCOTCH IS DEPENDENT ON
THE GENEROSITY OF ALL OF US TODAY
Thank you for considering a gift in your Will to Scotch College or to the Scotch College Foundation .
Each bequest of any size matters ; even modest gifts can have an amazing and lasting impact on the lives of our boys .
‘ Scotch ’ s story is their story ; the contributions they have made in their fields of endeavour , the impact they have made within and across their communities , and the difference they have made to those around them .
The future success of Scotch is dependent on the generosity of all of us today .’
ASSOCIATE PROFESSOR DOUG LORDING AM (’ 64 ), SCOTCH COLLEGE FOUNDATION PRESIDENT
www . scotch . vic . edu . au Great Scot 95