Bequests
Supporting the Academy’s Musicians
Very often, personal circumstances mean that it is not always possible to support the Academy with a donation. A gift made through your will means that your current circumstances are not affected.Types of bequest
A bequest may take several forms:- the remainder, or residuary, of your estate. This is what remains after all other gifts and expenses of the estate have been paid.
- a specified proportion of your estate.
- a specific amount of money, or specific assets. These may include shares, property or other identified assets.
The purpose of your bequest
A bequest allows the flexibility to make a gift for a specific purpose or purposes, or you can simply make your gift to the Academy’s Endowment Fund that provides ongoing financial support for a variety of needs of the Academy’s musicians.A list of suggested specific purpose gifts is detailed below.
We recommend that a general, or non-specific, bequest be made to the Australian National Academy of Music Foundation. The Foundation maintains an Endowment Fund, the income from which is used to support a range of Academy activities. Many people choose this type of gift as it allows the Academy to react to needs that may not have been identified at the time the bequest instructions were written.
Wording of bequests
If requested, the Academy can supply suggested wording for you to discuss with your legal advisors, but as circumstances may vary for each individual it is important that you consult with your professional advisors for the correct advice. The Academy cannot provide legal or other specialised advice.Suggested specific purpose bequests
The Academy’s purpose is to be a national centre for excellence for the further development of young musicians with outstanding talent, capability and dedication, and who aspire to significant national and international careers.
This means there are a variety of purposes to which support might be directed and some suggestions are listed below:
Scholarships
The Academy believes that it is important that musicians receive every encouragement to devote the maximum possible time to developing their craft. Every musician attending one of the Academy’s full-time programs is provided with a living allowance that may be supplemented for cases of financial hardship. Many, especially those from beyond Melbourne, are also assisted with a rental allowance. Financial assistance is also provided to musicians attending Academy workshops and masterclasses. A gift to the Academy’s Scholarship Fund will ensure that this substantial support can be maintained for future generations of young musicians.
Overseas travel
Attending approved major international music competitions, intensive workshops and performance at important festivals is a valuable, but expensive, activity. This activity may be supported by a specific gift.
Overseas study
Although Academy Musicians receive an extraordinarily high level of professional development at ANAM, it is a reality that many of the world’s greatest pedagogues and performers are based overseas, particularly in Europe and North America. Participation in courses at leading overseas music schools is a very expensive process, especially as it usually involves long periods of time. Support of an Overseas Study Fund will enable the very best young musicians to be given this opportunity.
Musical instruments
It is important that the Academy has available a range of high quality instruments available to selected musicians. Many young musicians cannot afford quality instruments that are important for the development of their performance career, and the Academy aims to be able to lend instruments for appropriate periods of time to those in need. The Academy also has its own instruments, not usually owned by a young musician, such as bass clarinet; timpani; period instruments, etc as well as a significant number of pianos. Gifts may be for the purchase of specific instruments or groups of instruments. Gifts may be used to provide interest free loans to assist musicians in the purchase of instruments.
There are many other possibilities for specific purpose bequests, but we recommend that you discuss your preferences with us to ensure that your wishes are fully realised. It is important to us that the trust you place in the Academy is properly honoured.
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