Bequests
These are only some examples of legacy gifts. We strongly encourage you discuss these options with your financial planner and/or your lawyer to discover the best way to “make a difference.”
Please visit www.leavealegacy.ca for more information.
Bequests
Bequests are vital in making sure that the hospital is supported, now and in the future. They give you have the opportunity to do something extraordinary for your community, when you include a gift to the Foundation in your estate.
Bequests are a gift of cash or property designated in a will that a charity receives upon the death of the donor. They do not require donors to part with any assets during their lifetime, which makes them a popular legacy gift. Donors can choose to leave three types of bequests:
- Specific bequest: Donors state exactly what they wish to bequeath to the charity. For example, a specific dollar amount, a gift of property or a percentage of the estate.
- Residual bequest: The residual portion (any left-over property) of assets after other terms of the will have been satisfied, are gifted to the charity.
- Contingent bequests: Allow donors to leave a portion of their estate to a particular charity if their named beneficiary is no longer alive.
There are many ways to leave a legacy. We encourage you to use the professional assistance of your lawyer in preparing your will and discuss the arrangements in advance with your financial advisor.
Estate planning can give you and your loved ones peace of mind but it is important your bequest is correctly worded to avoid confusion later on and ensure your wishes are carried out.
These are only some examples of legacy gifts. We strongly encourage you discuss these options with your financial planner and/or your lawyer to discover the best way to “make a difference.”
Please visit www.leavealegacy.ca for more information.