Over the past 22 years, GreaterGood has helped distribute $21 million to more than 200 charities thanks to an unorthodox revenue stream.

Now the non-profit is asking Canberrans to consider leaving a charitable donation that will cost them nothing while they are alive, by donating through their will.

“The difference between GreaterGood and everything else is it lasts forever. That is just so impactful. It’s really fantastic,” said volunteer board member Aidan Goldsmith.

GreaterGood is a community foundation managed by the ACT Public Trustee and Guardian.

Unlike traditional charities, GreaterGood isn’t directly involved in charitable work; rather, the organisation helps Canberrans donate a portion of their estate to an enduring or perpetual trust.

The trust puts money into managed funds – which Mr Goldsmith describes as being similar to superannuation accounts – and the profits from these investments are then annually donated to a person’s nominated charities.

According to Mr Goldsmith, it makes a big difference.

“What makes it different from anything else, and the reason why I was so attracted to contribute to GreaterGood, is that it’s a perpetual fund,” he said.

“Unlike donating one large sum to a charity where it can be spent and used very rapidly, at GreaterGood the difference here is that they hold the funds forever.

“Those funds then contribute to the charity of your choice in perpetuity. It’s a really great way to ensure that the charity of your choice is supported for many, many, many years to come.”

GreaterGood currently manages 97 enduring trusts for varying causes that Canberrans can nominate to donate to through their wills.

Enduring trusts can have major long-term impacts on the community.

The famous Rhodes Scholarship, established in 1902, operates to this day and has sent three Australian prime ministers – Bob Hawke, Tony Abbott and Malcolm Turnbull – to Oxford.

As part of Wills Week, GreaterGood wants people to learn how generosity now can become a multi-generational legacy after they have died.

With more than $3 trillion expected to change generational hands in the next two decades, charitable giving after death is a complex subject.

According to experts, planning is crucial for those who want to bequeath large donations from their estates.

DDCS Lawyers’ Theresa Dowling said leaving money to charity in your will could be complicated.

“It’s often highly fraught at the end of the day,” she said. ”Succession planning really is a variation of family law in that we’re dealing with family relationships, family dynamics, often fractured relationships.”

Ms Dowling said wills were often contested, which was why it was so important for people with a specific desire for their estate to put their affairs in order.

However, she said there was one sure way of ensuring donations reached their intended destination.

“I often explore with clients, you know, ‘Is there a reason that you want to leave this until you die?’”

But for those who do want to leave it to their will, there are three main forms of bequests: those that go directly to charities, those that go to public funds, and private funds.

Each comes with varying levels of complexity when adding to a will.

According to Ms Dowling, people who want to explore these options should consult a solicitor before finalising their estate plans.

“I consider it to be absolutely crucial for lots of reasons,” she said.

”One is to identify the potential risks and pitfalls that may exist. But the other is to consider the potential opportunities around tax-effective planning, and asset protection for the people in your life that you love … [that’s] why I think it’s important for a client in this situation to have specialist professional assistance.”

Donations through wills are increasingly a major source of funds for many non-profits and charities around Australia.

Roundabout Canberra, which provides essential items for families in need, is one charity that has benefited from a GreaterGood fund.

Founder Hannah Andrevski said these types of bequests made a huge impact on her organisation and the community.

“We’re so grateful to GreaterGood and its donors for helping us ensure every child has what they need to feel safe and comfortable,” she said.

To learn more about how to leave a charitable bequest in your will, visit the GreaterGood website.