Bequest in a Will
A bequest in a Will is the simplest and most common type of legacy gift. You can make a specific bequest, where you donate a specific sum of money or a particular asset such as real estate, securities or life insurance policy. You can also make a residual bequest, where you donate all or a portion of your estate after all debts, taxes, expenses and other bequests have been paid. Additionally, a contingent bequest can be made that only takes effect if the primary beneficiary (for example: a spouse) does not survive the donor. All bequests should include the full legal name, city, province and charitable registration number of the charity.
- Simplest kind of legacy gift.
- Significant tax benefits.
- Flexible and can be changed at any time.