What is a Charitable Bequest?
A bequest or gift by Will is the simplest and most popular way of making a legacy gift to the Chesley & District Health Services Foundation. It is a convenient way for you to leave a lasting legacy or honour the memory os a loved one. A bequest also ensures our health care professionals are able to provide the best care to their patients for generations to come.
What are the Benefits?
Convenient - Can be made no matter how old you are and in any amount you want.
Easy to arrange - Instruct your lawyer to include a bequest to the Foundation in your Will.
Cost-Effective - No extra out-of-pocket costs. Your present income will not decrease.
Tax Relief - A highly effective way to reduce Estate taxes. The Foundation will issue a charitable tax receipt for the full value of your bequest. This receipt will be used to reduce the tax payable on your final tax return. If your bequest exceeds 100% of your net income, the excess may be carried back to the previous tax year.
Flexible - Can be for a specific amount, a percentage of your Estate, or the residue of your Estate (a gift after your debts, taxes and specific legacies have been paid).
Control - Retain use of all your assets for the duration of your lifetime.
Peace of Mind - Make changes to your Will at any time.
How Do I Make a Bequest?
Making a bequest is simple. If you have already prepared you Will, your lawyer can easily add a supplemental clause detailing your gift intentions to your present Will, at modest cost.
If you have not yet prepared a Will, we recommend you do so! This is an important "first step" to ensure that your intentions for your Estate are documented and that your loved ones will be properly cared for.
You may make a specific bequest, which means that you designate a specifies amount to the Foundation ; or you may make a residual bequest, which means that you designate all or a percentage of the remaining portion of the Estate to the Foundation after specific legacies, debts, taxes, and administrative expenses have been paid. You may also choose to direct your gift to an area of interest at the hospital.
Language for Your Will
The following are examples of language you might consider for leaving a bequest to the Foundation:
Unrestricted Use - Specific Bequest
To pay to the Chesley & District Health Services Foundation, the sum of $........ to be used for such purposes for the benefit of the Foundation as its Board of Directors may from time to time determine.
To pay the Chesley & District Health Services Foundation, the sum of $........ without imposing any restrictions upon this bequest, it is my wish that it be used for ................................ under the direction of the Board of Directors of the Foundation.
To pay to the Chesley & District Health Services Foundation, the sum of $........ to be used for ........................................ (eg. The purchase of medical equipment).
Unrestricted Use - Residual Bequest:
To pay or transfer to the Chesley & District Health Service Foundation, the whole of the residue (or a percentage of the residue) of my estate to be used for such purposes for the benefit of the Foundation as its Board of Directors may from time to time determine.
Restricted Use - Gift of Tangible Property
To transfer and deliver to the Chesley and District Health Services Foundation, 1,000 shares of Bell Canada Enterprises (BCE) in kind to be used for ...............................(e.g. the purchase of medical equipment).
The legal name of the Foundation is Chesley & District Health Services Foundation. Our charitable number is BN 890310246 RR0001.
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Tells us in 100 words or less why your local hospital is special or wirte about an experience you or your family has had with the Chesley And District Hospital.
Deadline : October 9th, 2013
Submit your entry by mail to:
Re:Hopital Story Entry
215 Carling Terrace
Wingham, ON N0G 2W0
Grand Prize IPOD draw will take place on Radiothon day October 19th.
Listen from 9 am to 5 pm and you may hear your story read live on the air!
*Contest is open to Huron, Perth, Bruce, Grey and Wellington counties. Some rules apply. Prizes must be accepted as awarded. In addition to the grand prize there will be a draw for FOUR other cool prizes.
June 19, 2013 at 7:30pm - Boardroom of the Chesley Hospital