Legacy giving is a way of making a charitable gift to a charity or non-profit organization in your will. It can be a legacy gift in your will (or a charitable bequest) or a percentage of your assets. It could also include naming a charity of choice as an inheritor.
Leaving a legacy gift in your will to Gilda’s Toronto is a meaningful way to support people experiencing cancer-related stress. It’s much easier than you might think.
In Canada, valuable tax incentives encourage Canadians to leave a legacy gift. When you leave a charitable donation, your estate benefits with a tax receipt for the gift’s total value, which adds a tax credit to your final income tax return. This can help to maximize the value of your residual estate for your beneficiaries.
Whether you are having your first will drafted, or you are revising your current one, you can leave a percentage of your assets after your loved ones have been cared for (a residual gift), or you can leave a legacy gift in a specific dollar amount, often called a particular gift.
Your professional advisor will need the following: our legal name – Gilda’s Club Greater Toronto, our charitable number — 8942 3542 RR0001 and our mailing address – 70570 – 2938 Dundas Street West, Toronto ON M6P 1Y0.
Sample wording for a residual gift in your Will
“I give to Gilda’s Club Greater Toronto, currently of 70570 – 2938 Dundas Street West, Toronto ON M6P 1Y0, all (or ______%) of the residue of my estate, to be used at the discretion of the organization.”
Sample wording for a specific gift in your Will
“I give to Gilda’s Club Greater Toronto, currently of 70570 – 2938 Dundas Street West, Toronto ON M6P 1Y0, the sum of $______ to use at the organization’s discretion.”
Disclaimer
The Legacy Giving information on this website is provided for general information purposes only. It is not intended as a substitute for professional advice and assistance from your lawyer, financial advisor or tax consultant. We recommend discussing your plans with your lawyer or financial advisor before proceeding with a legacy gift.