A gift in your will, known as a ‘bequest’, costs nothing now, yet allows you to support something you care about. You retain complete control over and use of your assets during your lifetime, and you may change your bequest at any time, should your circumstances change.
Your estate will receive a donation receipt for use against 100% of your net income in the year of your passing, and in the preceding year. With recent tax changes, your estate may now also claim tax credits in subsequent years, if desired.
Specific Bequest
You designate a specific dollar amount or piece of your property in your Will to Broadmead Care. For example, real estate, stocks/bonds, works of art.
Suggested clause: “I give the sum of $ (or a description of the property, or X# of 100 shares) to Broadmead Care Society, Charitable registration #129290383 RR0001, to be used in support of its general charitable purposes (or specifically designated).”
Contingent Bequest
You make a provision in your Will that your gift only takes effect if your primary intention cannot be met (that is, if the primary beneficiary and alternative beneficiaries do not live longer than you).
Suggested clause: “If neither (name of primary beneficiary) nor (name of alternate) survives me for 30 days, then I give (description of the amount of cash, percentage or residue, etc.) to Broadmead Care Society, Charitable registration #129290383 RR0001, to be used for its general charitable purposes (or specifically designated).”
Residual Bequest
You allocate all or a portion of your estate to Broadmead Care that remains after all debts, taxes, expenses and other bequests are paid.
Suggested clause: “I give % of the rest, residue, and remainder of my estate to Broadmead Care Society, Charitable registration #129290383 RR0001, to be used for its general charitable purposes (or specifically designated).”
