A gift in your will
A gift in your will is also known as a bequest or legacy
A person’s Will is more than a legal document. A Will is a testimony to a person’s life and values – values that have emerged from a lifetime of living, learning, work and growth. Giving consideration to a gift in your Will indicates a willingness to give real expression to the values which were important during a lifetime. An increasing number of Canadians as part of their estate planning are leaving a gift to charity in their Will.
Naming The Arthritis Society in your Will is a wonderful way to continue your support into the future. Bequests help ensure the continuation of access to arthritis education, programs and services for Canadians living with arthritis. They are also an integral part of funding research for a cure.
The tax structure of our country is set up in such a way as to favour charitable giving. There are a number of ways of leaving a gift through your Will. Bequests can be in the form of cash, real estate, securities, tangible personal property or other assets.
Tax Benefits: A gift in your Will (also known as a bequest or legacy) gives your estate a donation receipt for the amount given and thus a tax credit to be used in your final tax return. It can be used against 100% of income in the year of death and any excess not used may be carried back one year and used up to 100% of income in the year before death.
How to leave a gift in your will
A gift in your Will (also known as a bequest or legacy) is straightforward to arrange. It can be as simple as including a sentence or two when you write your Will, or adding a codicil to your existing Will.
There are different types of gifts you can leave in your Will:
- Specific bequest: a specified dollar amount, or a specific item of property, that is left to a named beneficiary in the Will
- Residual bequest: a percentage (or) share (or) all of the remainder of your estate after other gifts and liabilities have been paid out
- Contingent bequest: a percentage or share of your estate paid only in the event that other named beneficiaries have predeceased you
If you are thinking of leaving a gift to The Arthritis Society in your Will, download our sample wording for bequests. You can provide this sample wording to your lawyer for inclusion in your Will.
Need help planning your will?
Download our easy-to-follow Planning Your Will guide. It will help you think about your estate – a first step in preparing for discussions with your family, your lawyer and other advisors.
Download the Planning Your Will Guide
Is your will up-to-date?
If you have an existing Will, read over this checklist to know if it’s time to review and update it.
Talk to your lawyer: Talk to your lawyer about what will work best for you. Once you have provided for your loved ones, The Arthritis Society would be honoured if you would consider naming The Society as a beneficiary of your estate.
Bequest Commitment Form
Please tell us about your gift
If you have left, or intend to leave, a gift in your Will to The Arthritis Society, please let us know. Contact a member of our Planned Giving team, or download our Bequest Commitment Form.
Letting us know of your gift will help to ensure that the funds will be used in the way that you intend. We would also like to thank you personally for your future gift! Your information will be kept completely confidential.