Bequest in Your Will
A charitable bequest is a gift made by Will. A bequest is one of the simplest ways to make a gift to the Sens Foundation or our charity of choice Roger’s House and often at a level not possible during one’s lifetime.
Benefits to Donor
Making a will is not only a sensible thing to do -- no matter what your age, no matter how big or small your estate -- it is also the loving thing to do. Here’s why:
- A Will enables you to distribute your money and property as you choose.
- As a donor you can be assured that your family and loved ones are provided for and be content with the knowledge that you are also supporting the Sens Foundation or our charity of choice Roger’s House.
- A bequest in your Will to the Sens Foundation or our charity of choice Roger’s House can significantly reduce taxes payable upon death.
- A Will comes into affect upon death, therefore, you retain the right to alter your gift throughout your lifetime
A bequest to the Sens Foundation or our charity of choice Roger’s House will provide a tax benefit to your estate. Your estate will receive a charitable donation receipt for the full value of the bequest. That receipt will reduce the tax payable by the estate. If the total bequest cannot be used for tax purposes on your final tax return, the excess may be carried back to the previous tax year creating a reduction in taxes previously paid. The donation claim limits is 100% of net income in each of those years
Types of Bequests
A bequest is one of the most common ways that individuals choose to give to a charity such as the Sens Foundation or our charity of choice Roger’s House and usually takes one of the following forms:
- An undesignated bequest allows the Sens Foundation to use your gift where the greatest need exists.
- A designated bequest is a gift with a specific purpose. You may, for instance, specify that your gift be used for a particular area of support like educational bursaries, health & wellness, or recreational opportunities.
How to Make a Bequest
Wills can be complex documents and should be drafted with the assistance of legal counsel. In addition, donors and their advisors are encouraged to involve the experienced staff of the Sens Foundation or our charity of choice Roger’s House in this process. The wording of a bequest, if not crafted properly, can become difficult to administer. To ensure correct and timeless wording that best honours your true intention, we would be delighted to help you and your advisor fine-tune the relevant clause in your Will.
The proper legal name for making a gift to us is Sens Foundation.
The proper legal name for making a gift to our charity of choice is Roger’s House.
For more information please contact us.