A bequest is a gift made through a will and may include cash, marketable securities, closely held stock, real estate, or tangible personal property, which allows you to create a legacy for ErinoakKids Centre for Treatment and Development.
What are the types of bequests that are available?
Your legal and financial advisor will work with you to find the best option to meet your personal and philanthropic goals. These are the most popular types of bequests to choose from:
-
Specific bequest: Designate a fixed dollar amount or specific property to ErinoakKids.
-
Residual or proportional bequest: Designate either your entire estate or a percentage of your estate after other specific bequests and payments are distributed. When you designate a portion of your estate to ErinoakKids, the bequest automatically adjusts in size as your estate increases or decreases over the years.
-
Contingent bequest: In the event of the death of the primary beneficiary named in the will, ErinoakKids would then become the beneficiary.
See suggested wording for bequests to ErinoakKids in this quick reference sheet.
What are the benefits of making a bequest to ErinoakKids?
Bequests can allow individuals to make much larger gifts to ErinoakKids than they could during their lifetime.
A bequest is a tax-effective way to support ErinoakKids, and your estate may claim gifts in the year of death equal to 100 per cent of your net income in that year and the preceding year.
You can support key priorities at ErinoakKids that meets your interests. We encourage you to consult with ErinoakKids staff member to discuss to ensure the fulfillment of your wishes.
Designations for bequests are revocable so you retain control of assets during your lifetime.
There is no minimum giving level for bequests.
How can I make a bequest to ErinoakKids?
Just follow the step-by-step directions below:
-
Determine with your estate planning advisor the investments that would meet your philanthropic and financial goals.
-
When drafting your will, please use "ErinoakKids Centre for Treatment and Development" for our legal name. Our Charitable Registration Number for Revenue Canada is 118901446RR0001.
-
Please complete with your estate planning advisor the Confidential Statement of Future Intent. This ensures that your wishes are fulfilled and that your gift is used as specified at ErinoakKids. It also allows us to express our appreciation during your lifetime.
All inquiries are treated with the strictest confidence.
Information provided by ErinoakKids does not constitute legal or financial advice. ErinoakKids strongly recommends that you seek professional legal and financial advice.
For more information, contact fundraising@erinoakkids.ca