Leave a Gift in Your Will
A Will is an essential document that allows you to choose what to do with the possessions and investments accumulated throughout your lifetime. A bequest – a gift given through a Will – is a popular way of making a future significant gift to charity while maintaining your present financial security.
Types of Bequests
The most common types of bequests are listed below. In each case, you can direct the BC Epilepsy Society in your Will to receive a:
- Specific Bequest: A specific dollar amount or stated fraction of the estate.
- Residual Request: All or a percentage of the remainder of your estate after other specific legacies have been fulfilled.
- Contingent Bequest: All or a share of your estate only in the event of the prior death of other named beneficiaries.
- Trust Remainder Bequest: Income from a trust created in the Will. Upon the death of the beneficiaries, all or part of the principal is left to the BC Epilepsy Society.
A Will is fully revocable while you live: you retain control and can easily make revisions – should your wishes or circumstances change – either by drafting a new Will or adding a codicil to your old one.
At your death, your estate is entitled to a donation receipt for your bequest, providing a significant tax credit on your final tax return that can be applied up to 100% of your taxable income. If the total of your gift exceeds 100% of income, the excess may be carried back to the preceding year’s income tax return.
Bequests to the BC Epilepsy Society
Your bequest to the BC Epilepsy Society can be made with a gift of cash, real estate, or securities. Sometimes it is more advantageous to give such property, such as in the case of appreciated listed securities, because of different tax treatments, especially on capital gains.
Most bequests will be for the BC Epilepsy Society’s general purposes, allowing the Society to support its most urgent needs. You may also make a restricted bequest to be used for a particular purpose or program. For example, you may specify that the principal of your bequest be used to establish a named endowment fund or be added to an existing fund.
Whatever your intentions, please discuss the terms of your bequest with a representative of the BC Epilepsy Society – particularly when you wish to designate its use – to ensure your wishes can be met.
Making a Bequest
At your request, a Society representative will be happy to talk with you and with your lawyer to discuss your intentions. When you have completed your Will and included or added a provision for the BC Epilepsy Society, please let us know so we may express our thanks and recognize you for your gift through The Auckland Society. We will, of course, respect your wishes should you prefer to remain anonymous.
Sample clauses and provisions are attached to assist you in preparing your Will. These sample clauses do not provide a substitute for professional advice and counsel. Once your Will is executed, we would appreciate receiving a copy of the clause pertaining to your bequest to the BC Epilepsy Society for future reference. All information will be held in strictest confidence.
The Benefits of Making a Bequest
There are numerous benefits to making a bequest, both to you and to the charity.
- A means of providing a significant gift in support of an area of your interest at the BC Epilepsy Society.
- The ability to recognize a loved one by establishing an endowment fund with your bequest.
- With your consent, your name will be added to the roster of The Auckland Society.
To the BC Epilepsy Society
- The Society receives a generous gift in support of its activities.
- An endowed gift provides sustainable and lasting support for the Association.
- Your leadership and vision in setting up a bequest assists us in encouraging others to consider a gift in support of the BC Epilepsy Society.
The Auckland Society
In tribute to the founder of the BC Epilepsy Society, The Auckland Society recognizes those individuals who have made – or have pledged – a planned gift to the BC Epilepsy Society. Anyone who informs us of their intentions of making a bequest through their Will become a patron of The Auckland Society. As well as special recognition in our newsletter, members of The Auckland Society enjoy other benefits and recognition for their commitment to and the fight against epilepsy.
You may wish to make your gift anonymously. We will take great care to honour your wishes.
The information provided in this document is not intended as legal advice or personalized financial planning. The BC Epilepsy Society cannot provide complete financial or legal opinions. We strongly encourage you to consult your family and obtain independent professional advice.