What it is:
A bequest is a gift of property by Will. It allows donors to make a generous future gift to a charity that will benefit the whole community. Bequests can be made through outright gifts of cash, through pledges to contribute certain amounts over stipulated periods, or through a testamentary trust.
- flexibility—you can change your Will at any time
- a value tax credit for your estate on your final tax return
How it Works:
- Determine which charity you wish to include in your Will.
- Discuss your intentions with your immediate family.
- With the assistance of your lawyer, revise your Will with a general or specific bequest clause to include the charity
If you are considering a charitable bequest, we recommend you speak to a representative of the charity and obtain professional advice from a qualified lawyer.