LEAVING A GIFT IN YOUR WILL
Our proper legal name for making a bequest is THE CANADIAN MEDICAL HALL OF FAME
Charitable Registration #14003 6914 RR0001
A Will is the easiest way to ensure that your assets are distributed according to your wishes to the people and charitable organizations you care most about. A properly planned Will can also help reduce the taxes payable on your estate.
A Charitable Bequest made in a Will is the most common type of planned legacy gift. It may be a sum of money, securities, specific piece of property, percentage of your estate or the remainder of your estate after other bequests and debts have been paid.
- Leaving a bequest to the Canadian Medical Hall of Fame in your Will allows you to make a larger, more impactful gift than may be possible during your lifetime – increasing the impact of your generosity.
- Your estate will receive a charitable donation receipt for the full amount of the gift which can reduce the amount of tax payable by your estate after your death.
- A bequest is revocable, providing you with the flexibility to change your estate plans during your lifetime if your financial situation changes or you wish to change the distribution of your estate assets to loved ones and other favourite charities.
How it works
Leaving a bequest is quite simple. After talking with your family, speak with your lawyer about adding a directive, or codicil, in your Will to leave a gift to the Canadian Medical Hall of Fame. Your legal advisor will be able to assist you with the proper wording for your bequest. The following is sample wording for your consideration:
Specific Bequest (Stated dollar amount or specific property/asset)
“I direct my estate trustees to pay the sum of $ _______ (or transfer assets with an equal value) to The Canadian Medical Hall of Fame, London, Ontario for the purpose of supporting its mission driven programs and activities. (OR)
“I direct my estate trustees to transfer to The Canadian Medical Hall of Fame (identify the personal property to be given, for example 500 shares of XYZ stock).”
“I direct my trustees to pay or transfer to The Canadian Medical Hall of Fame _____ % of my estate.”
After paying debts and other bequests: “I direct my trustees to pay or transfer to The Canadian Medical Hall of Fame the whole (or _____ %) of the residue of my estate.”
If you wish to designate your gift for a specific purpose, please contact us to discuss your intention before finalizing your Will.
If you choose to name the Canadian Medical Hall of Fame in your Will, please let us know so that we can send you our Bequest Information Form and recognize you as a member of our Legacy Circle, unless of course, you prefer that your legacy intentions remain anonymous.
For helpful forms and details, contact us today
Please Note: The information provided is general in nature and should not be considered as professional legal/financial planning advice. With all planned gifts, before making final decisions discuss your gift intentions with your family and seek independent professional advice to ensure your financial and philanthropic goals are considered, your tax situation reviewed and your planned gift is tailored to your personal circumstances.