Common questions about leaving a gift in your will
A will is a legal document that lets you decide what happens to your money, property and possessions after your death.
Anyone at all can leave a gift in their will to charity, and nearly 1.5 million Canadians have. Some people think that it’s only an option for the very wealthy, but that simply isn’t true. You may not have a lot of cash to give today, but you may have accumulated modest savings or assets, such as a house that you never have a chance to spend during your lifetime. A gift in your will is your final opportunity to make a lasting gift to a cause you care about.
There are many ways to structure a gift in your will, and we recommend that you speak with your lawyer to choose the type of gift that is right for you. One of the most common types of gifts is called a residual gift. After you’ve taken care of your loved ones and paid any outstanding debts, whatever is leftover–or the residue–can be gifted to charities of your choice.
Gifts in wills serve two purposes. First, including 630 CHED Santas Anonymous in your will is a wonderful way to ensure we can continue to play it forward for future generations. And second, it stretches your lifetime of generosity into the future. We often hear from donors that they feel deeply satisfied, knowing that they can continue to help their families and neighbours even after they’re gone.
Your will is the best way to make sure your friends and family are provided for. We understand that this may be the most important consideration for you.
One way to think about this is to divide up your estate into percentages. For a moment, think of your will like a pie. You can choose to leave a slice to each of your children, another to your grandchildren, and another to a cause you care deeply about.
In some cases, leaving a gift to charity in your will can help reduce the amount of inheritance tax that needs to be paid on your estate. If you’d like to know more about this, we recommend discussing it further with a professional advisor.
You can certainly include The Ottawa Hospital in your will, even if it’s already been written. You can use a special legal document called a codicil to update your will at any time.
Here is some sample wording to include in your will.
“I give the rest, residue and remainder of my estate [or ___ % of the residue] to 630 CHED Santas Anonymous in the City of Edmonton, Province of Alberta, Canada.”
“I give the sum of $________ (dollars) to 630 CHED Santas Anonymous in the City of Edmonton, Province of Alberta, Canada.”
“If [name of beneficiary] does not survive me, or shall die within thirty days from the date after my death, I give to 630 CHED Santas Anonymous in the City of Edmonton, Province of Alberta, Canada, ___ % of the residue of my estate [or $____ ].”
Legal Name: CHED Santas Anonymous Incorporated
Charitable Registration Number: 81837 7343 RR0001
Address: 12122 68 Street NW, Edmonton, AB, Canada T5B1R1
To be legal, the codicil must meet the same requirements as a will. It must be in writing, dated, signed by you and two witnesses.
The average Canadian will update their will three times over the course of their life. You can do this yourself or seek the advice on your lawyer. As the years go by, things change: marriages take place, babies are born, loved ones pass away, living situations are adjusted. It’s very common to update your will to reflect those important milestones in life. And, it can be a convenient time to include a gift to charities, like 630 CHED Santas Anonymous, that are close to your heart, too. By leaving a gift in your will to Santas Anonymous, you are helping to nurture joy, learning and growth for future generations.
Every gift to 630 CHED Santas Anonymous makes difference. A gift in your will is simply another way of helping–but it’s a particularly special one. That’s because, for most people, a gift in their will includes assets like real estate or investments that might not be considered when you normally think about making a donation. So, by including Santas Anonymous in your will, you might find you’re able to make a much bigger difference than you ever dreamed possible.
You’re under no obligation to share that you’ve left a gift in your will with us. If you do choose to communicate that you’ve included Santas Anonymous in your will, it enables us to plan much more effectively for the future. More importantly, it gives us the opportunity to thank you personally for your commitment to playing it forward and to ensure that your legacy is never forgotten.
Ready to talk about a gift in your will?
If you have already left a gift in your will to 630 CHED Santas Anonymous – thank you!
We would love to hear from you and thank you personally. Please contact Angel Benedict, Executive Director, at 587-855-1519 or firstname.lastname@example.org.