BEQUESTS

Bequests remain the number one method for charities to receive major gifts.

Have you thought about including the Spirit of the North Healthcare Foundation in your Will? You may designate a specific amount, a percentage of your estate or in fact, specific items in your Will that are donated to the Foundation. All of these items are eligible for a tax receipt that may reduce the final settlement of your estate with Canada Customs and Revenue.

Getting started is perhaps the most difficult part about making a Will. The laws relating to an estate are not simple; therefore, the use of professional estate planning, tax and legal advisors in these matters is vital.

When you have collected the pertinent information on of your assets (property, cash, investments, insurance and personal goods) visit your professional advisor.

With your advisor you develop a plan to meet your legal responsibilities and family obligations. Other family members and friends could also be included. You can then plan the disbursement of the residual of your estate to your areas of interest including favourite charities.

Flexibility in a Will can be maintained by using percentages rather than fixed amounts so that changes in finances will not force a complete revision.

If a person  dies without a current Will the government can dictate the disbursement of the assets and the costs to the estate may be substantial.

How to make a gift to The Spirit of the North Healthcare Foundation

To make a gift to the Spirit of the North Healthcare Foundation, ask a lawyer to include in the will, one of the following statements:

I give, devise and bequeath to the Spirit of the North Healthcare Foundation: the sum of $___________, (or) my property known as ____________, (or) ________ percentage of my residue of my estate, (or) the residue of my estate, for its sole use and purpose.

You may direct your donation to a specific area or program.  Please remember, things change over time and it is important to allow the Foundation the necessary flexibility to meet your expressed intentions.  We ask you to include a statement similar to this:

If in the opinion of the Board of Directors of the Spirit of the North Healthcare Foundation, the needs of funds for the purpose described no longer exists, the funds can be used as determined by the Board for the best interests of the health care in Prince George and the surrounding area.

Trusts (spousal and/or family) are other methods of making a donation through a Will. Again, although quite simple in appeal it is best to seek professional planning assistance to ensure your wishes for family protection and donations to charity are fulfilled.