A small but important detail written into Ian and Nancy Wood's wills could save lives even decades from now.
The NSW couple, aged in their 80s, have joined the trend of elderly Australians leaving large chunks of their hard-earned money to charities when they die.
Ian told 9news.com.au he and Nancy first drafted their wills decades ago and have since set up a charitable trust fund to donate to non-profits in perpetuity.
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"Writing a will is not the most pleasant idea, but once you've thought about it and made some decisions, it's organised and you don't need to concentrate on it any longer," Ian said.
"We keep up an annual contribution into the trust funds, so that balance just keeps on increasing.
"It's very simple to set up and you just specify what charities you want to benefit from those funds."
Charitable trusts can be established in a will to share funds after death on a continuous basis, rather than as a lump-sum payment.
It will ensure the couple's favourite charities are given ongoing donations for years, even decades, after they are gone.
One of the charities Ian and Nancy chose is The Heart Research Institute.
Ian's father died young from a heart condition at age 47, while Nancy's father suffered a heart attack on the morning of their wedding.
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The couple wanted to leave charitable bequests in their will to help further the institute's life-saving mission.
"You never know when something's going to happen, whether it's a car accident or you might get killed by a heart attack," Ian added.
"My father died of a heart attack when I was 13 and that's one of the things that prompted me to do something about research for heart problems."
In the past 12 years, donations made by the Woods have already contributed to life-saving heart research.
They hope the money gifted after their death will continue this legacy.
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Ian's daughter Phillipa and her husband have also chosen to set up their wills to bequeath money to multiple charities.
The multi-generational decision to divert inheritance to non-profits is on the rise.
Research from The Heart Research Institute found close to 20 per cent of Australians are considering donating money in their will despite the tough cost of living pressures.
It's been led by baby boomers, described by some as the "generous generation".
"When people choose to leave a bequest, they are making a decision to leave a lasting legacy, and may see it as a meaningful way to leave a mark and help transform the lives of others," the institute's chief executive Professor Andrew Coats said.
Funds bequeathed to charities in Australia are predicted to balloon to $2.5 billion by 2050, Fundraising Institute Australia research found.
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